EUR/CAD – 4H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards
A bearish movement down to the next support at 1.47595 is expected.
Caution: A possible change in the direction of the resistance zone at 1.50501 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Tweezers Top’ candle chart pattern is detected. The candles show ‘Tweezers Top’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.50590 |
| Next High | 1.50501 |
| Current Price | 1.48732 |
| Next Low | 1.47595 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.44868 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top