EUR/CAD – 1H – SELL

The currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline downwards

A continuation of the downtrend down to the next support at 1.57512 is considered certain.

Caution: A possible reversal of the trend in the direction of resistance at 1.58798 is within the realm of possibility.
Consider stop-loss settings accordingly.

Then a ‘Bearish Engulfing’ candlestick pattern is existing. The candles show ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.

1.58798 – 1.59276 – 1.60421 – 1.58123 – 1.58436 – 1.58357 —
1.58127 – 1.57702 —
34.579313303253 – 29.185378336358 —
– —
1.58798 – 1772737200

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing – – – – – – – – –