EUR/CAD – 30M – SELLThen a ‘Rising Wedge Chart Pattern’ chart formation is detected. The formation shows ‘Rising Wedge Chart Pattern’. which is a negative chart scenario. The currency pair is likely to fall.
The currency pair Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline down.
A descent downwards to the next support level at 1.60930 is expected.
Caution: A possible change in the direction of the resistance zone at 1.61434 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Black Crows’ candle pattern is existing. The candles form ‘Three Black Crows’. 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 chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62247 |
| 2nd High | 1.62035 |
| Next High | 1.61434 |
| Current Price | 1.60896 |
| Next Low | 1.60930 |
| 2nd Low | 1.60854 |
| 3rd Low | 1.60811 |
1.61434 – 1.61386 – 1.62035 – 1.60930 – 1.60854 – 1.60811 — 39.844816845604 – 36.209200566293 — 20.46204620462 – 10.943199583116 – 28.026750043425 – 19.065678497674
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows – Rising Wedge Chart Pattern – –