EUR/CAD – 30M – SELL

The currency pair Euro/Canadian Dollar (EUR/CAD) moves from the bearish trendline down.

A continuation of the downward movement downwards to the next support line at is likely expected.

Caution: A possible change in the direction of the resistance level at 1.61253 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart scenario. The currency pair is likely to fall.

And also a ‘StochRSI %K line crosses below %D line’ indicator signal is existing. The indicator shows ‘StochRSI %K line crosses below %D line’. which could be a negative chart scenario. The currency pair is likely to fall.

And also a ‘Bearish Engulfing’ chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

1.61253 – 1.61636 – 1.62019 – 1.60971 – 1.60978 – 1.6135 —
1.61059 – 1.61150 —
33.522511305832 – 50.537368246209 —
1.60971 – 1770786000 —
1.61253 – 1770766200

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing – Rising Wedge Chart Pattern – – – – – – – –