EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline downwards
The bearish trend down to the next support line at 1.49242 will continue.
Caution: A possible change in the direction of the resistance level at 1.50059 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Evening Star’ candle chart pattern is existing. The chart forms ‘Evening Star’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50308 |
| 2nd High | 1.50179 |
| Next High | 1.50059 |
| Current Price | 1.49592 |
| Next Low | 1.49242 |
| 2nd Low | 1.49102 |
| 3rd Low | 1.48752 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Evening Star