EUR/CAD – 1H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards
A descent down to the next support level at 1.47371 is likely expected.
Caution: A possible change in the direction of resistance at 1.49791 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Black Crows’ chart pattern is detected. The chart forms ‘Three Black Crows’. this is a bearish signal. The 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 | 1.50501 |
| 2nd High | 1.50378 |
| Next High | 1.49791 |
| Current Price | 1.47821 |
| Next Low | 1.47371 |
| 2nd Low | 1.47226 |
| 3rd Low | 1.47224 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows