EUR/CAD – 1H – SELL

The combination Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline down.

A bearish descent down to the next support at 1.62465 is likely expected.

Caution: A possible trend reversal in the direction of resistance at 1.6334 should always be considered.
Consider stop-loss settings accordingly.

Next a ‘%K crosses below %D’ indicator signal is found. The indicator shows ‘%K crosses below %D’. which could be a negative signal. The currency pair is likely to fall.

Next a ‘Last Engulfing Top’ candle chart pattern is detected. The candles show ‘Last Engulfing Top’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).

1.6334 – 1.62906 – 1.62804 – 1.62465 – 1.62094 – 1.6175 —
1.63100 – 1.63106 —
56.650328124104 – 55.649617597304 —
– —
1.63340 – 1764086400

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Last Engulfing Top – – – – – – – – –