EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline downwards
A descending movement downwards to the next support level at 1.61049 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.61278 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Engulfing’ chart pattern is found. The chart shows ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61636 |
| 2nd High | 1.61468 |
| Next High | 1.61278 |
| Current Price | 1.61638 |
| Next Low | 1.61049 |
| 2nd Low | 1.61042 |
| 3rd Low | 1.61026 |
1.61278 – 1.61468 – 1.61196 – 1.61049 – 1.61042 – 1.61026 —
1.61253 – 1.61749 —
50.862342346665 – 76.447038543871 —
– —
1.61278 – 1770894000
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing – Rising Wedge Chart Pattern – – – – – – – –