EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline downwards
A descent downwards to the next support line at 1.47224 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.47827 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles show ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48246 |
| 2nd High | 1.48188 |
| Next High | 1.47827 |
| Current Price | 1.47336 |
| Next Low | 1.47224 |
| 2nd Low | 1.47177 |
| 3rd Low | 1.45943 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing