EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bearish trendline down.
A continuation of the downtrend downwards to the next support line at 1.56118 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.58798 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Last Engulfing Top’ candle pattern is existing. The candles form ‘Last Engulfing Top’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.60421 |
| 2nd High | 1.59276 |
| Next High | 1.58798 |
| Current Price | 1.56332 |
| Next Low | 1.56118 |
| 2nd Low | |
| 3rd Low |
1.58798 – 1.58682 – 1.59276 – 1.56118 – 1.56198 – 1.57632 —
1.56308 – 1.56603 —
11.155525363012 – 39.463641475411 —
1.56118 – 1773037800 —
1.58798 – 1772739000
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Last Engulfing Top – – – – – – – – –