EUR/CAD – 1H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline downwards
The bearish trend downwards to the next support at 1.54067 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.59319 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Black Crows’ candle chart pattern is found. The candles show ‘Three Black Crows’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
Additionally a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which could be a negative chart signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.59319 |
| Current Price | 1.56894 |
| Next Low | 1.54067 |
| 2nd Low | 1.53824 |
| 3rd Low | 1.53262 |
1.59319 – 1.57450 – 1.55678 – 1.54067 – 1.54295 – 1.54972
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows