EUR/CAD – 4H – SELLIn addition a ‘Rising Wedge Chart Pattern’ chart pattern is discovered. The chart picture forms ‘Rising Wedge Chart Pattern’. which is a bearish signal. The currency pair is likely to fall.
The combination Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline down.
A bearish descent down to the next support line at 1.60796 will continue.
Caution: A possible change in the direction of resistance at 1.62247 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. this is usually a bearish chart signal. The currency pair could go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.62247 |
| Current Price | 1.60939 |
| Next Low | 1.60796 |
| 2nd Low | 1.59283 |
| 3rd Low | 1.56444 |
1.62247 – 1.61813 – 1.61086 – 1.60796 – 1.59283 – 1.56444 — 41.749945657515 – 41.327156539865 — 9.5827119875843 – 6.0405642686817 – 12.70002936429 – 10.667580078659
Trading Signals: FOREX – EUR – EUR/CAD – CAD – – Rising Wedge Chart Pattern – –