EUR/CAD – 30M – SELLAlso there is a ‘Inverse Head and Shoulder chart pattern’ chart formation is existing. The chart forms ‘Inverse Head and Shoulder chart pattern’. which is a positive pattern signal. The currency pair is likely to go up.
The pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards
The bearish trend downwards to the next support level at 1.60262 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 1.60819 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 1.60262 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 1.60819 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Black Crows’ candlestick chart pattern is detected. The chart shows ‘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 likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61434 |
| 2nd High | 1.61155 |
| Next High | 1.60819 |
| Current Price | 1.60308 |
| Next Low | 1.60262 |
| 2nd Low | 1.60135 |
| 3rd Low | 1.59283 |
1.60819 – 1.60526 – 1.60717 – 1.60262 – 1.60334 – 1.60272 — 40.283786141096 – 34.268262754752 — 0 – 0 – 11.460120429239 – 3.9803881992801
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows – Inverse Head and Shoulder chart pattern – –