EUR/CAD – 1H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline downwards
A bearish trend downwards to the next support at 1.49090 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.50378 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish SBS White Lines’ candlestick pattern is existing. The chart shows ‘Bearish SBS White Lines’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50590 |
| 2nd High | 1.50501 |
| Next High | 1.50378 |
| Current Price | 1.49334 |
| Next Low | 1.49090 |
| 2nd Low | 1.48752 |
| 3rd Low | 1.48347 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish SBS White Lines