EUR/CAD – 1H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline down.
A bearish descent downwards to the next support line at 1.49854 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.50239 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Black Crows’ candle pattern is discovered. The chart shows ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.50590 |
| Next High | 1.50239 |
| Current Price | 1.50097 |
| Next Low | 1.49854 |
| 2nd Low | 1.49090 |
| 3rd Low | 1.48752 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows