EUR/CAD – 4H – SELLThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline downwards
A descent down to the next support at 1.49090 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 1.50501 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bearish Harami’ chart pattern is detected. The chart shows ‘Bearish Harami’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.50590 |
| Next High | 1.50501 |
| Current Price | 1.49508 |
| Next Low | 1.49090 |
| 2nd Low | 1.48752 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Harami