EUR/CAD – 1H – SELL

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

A descending movement downwards to the next support level at 1.57176 will continue.

Caution: A possible counter-trend in the direction of the resistance zone at 1.59276 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Bearish Engulfing’ candlestick chart pattern is existing. The candles form ‘Bearish Engulfing’. 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 ‘Bearish Engulfing’ heading down is 79%.

1.58265 – 1.58177 – 1.57601 – 1.57176 – 1.5718 – 1.57037 —
1.58127 – 1.59150 —
67.813589757768 – 74.491531218558 —
– —
1.58265 – 1773824400

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