Sell EUR/CAD – 4H – SELL

The combination Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline downwards

A bearish movement down to the next support level at 1.48205 is considered certain.

Caution: A possible change in the direction of the resistance level at 1.51696 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Bearish Engulfing’ chart pattern is discovered. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

Support & Resistance Price Range*
3rd High
2nd High
Next High 1.51696
Current Price 1.50263
Next Low 1.48205
2nd Low 1.47224
3rd Low 1.44868

Download EUR/CAD Signal Image

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