EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards
A bearish trend down to the next support line at 1.48752 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.49791 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bearish Harami’ chart pattern is detected. The candles form ‘Bearish Harami’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50501 |
| 2nd High | 1.50378 |
| Next High | 1.49791 |
| Current Price | 1.49049 |
| Next Low | 1.48752 |
| 2nd Low | 1.48347 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Harami