EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at is certain.
Caution: A possible change in the direction of the resistance line at 1.57928 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish signal. The currency pair is likely to fall.
Moreover a ‘On Neck’ candlestick pattern is existing. The candles form ‘On Neck’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.59602 |
| 2nd High | 1.59508 |
| Next High | 1.57928 |
| Current Price | 1.57654 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.57928 – 1.59508 – 1.59602 – 1.57144 – 1.56665 – 1.58587