EUR/CAD – 1H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline down.
A bearish movement downwards to the next support level at 1.47110 is likely expected.
Caution: A possible change in the direction of the resistance zone at 1.48667 could occur.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Engulfing’ candlestick chart pattern is existing. The chart shows ‘Bearish Engulfing’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49907 |
| 2nd High | 1.49263 |
| Next High | 1.48667 |
| Current Price | 1.48601 |
| Next Low | 1.47110 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing