EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline down.
A continuation of the downward movement down to the next support at 1.56663 is likely expected.
Caution: A possible change in the direction of the resistance line at 1.57175 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Tweezers Top’ candle pattern is found. The chart forms ‘Tweezers Top’. 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 chance of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.57937 |
| 2nd High | 1.57689 |
| Next High | 1.57175 |
| Current Price | 1.56964 |
| Next Low | 1.56663 |
| 2nd Low | 1.56118 |
| 3rd Low | 1.55998 |
1.57175 – 1.57689 – 1.57937 – 1.56663 – 1.57033 – 1.57242 —
1.57036 – 1.57007 —
46.654048785766 – 55.137040221097 —
– —
1.57175 – 1773325800
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top – – – – – – – – –