EUR/CAD – 4H – SELLFurthermore a ‘Double top chart pattern’ chart pattern is discovered. The chart shows ‘Double top chart pattern’. which is a negative pattern signal. The currency pair is likely to fall.
The currency pair Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline downwards
A continuation of the downtrend down to the next support at 1.61066 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.63936 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Black Crows’ chart pattern is existing. The chart shows ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.6403 |
| Next High | 1.63936 |
| Current Price | 1.61292 |
| Next Low | 1.61066 |
| 2nd Low | 1.60602 |
| 3rd Low | 1.59283 |
1.63936 – 1.62623 – 1.62259 – 1.61423 – 1.61066 – 1.61434 —
1.63177 – 1.61972 —
51.208675376298 – 34.995747147429 —
– —
1.63936 – 1769544000
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows – Double top chart pattern – – – – – – – –