EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 1.47226 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.48016 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Bearish Engulfing’ candle pattern is discovered. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. 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 | 1.48016 |
| Current Price | 1.47825 |
| Next Low | 1.47226 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.47177 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing