Sell EUR/CAD – 1H – SELL

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The combination Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline downwards

A continuation of the bearish trend down to the next support level at 1.54013 is considered certain.

Caution: A possible change in the direction of resistance at 1.55686 could occur.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 1.54979 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support line at 1.55686 could occur.
Consider stop-loss settings accordingly.

Besides a ‘Two Crows’ candle chart pattern is existing. The candles show ‘Two Crows’. which 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 ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).

Besides a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. this is usually a bearish chart signal. The currency pair could go down.

Support & Resistance Price Range*
3rd High 1.56715
2nd High 1.56375
Next High 1.55686
Current Price 1.54495
Next Low 1.54013
2nd Low 1.51526
3rd Low 1.50026

1.55686 – 1.56375 – 1.56715 – 1.54979 – 1.55728 – 1.55638

Download EUR/CAD Signal Image

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