EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support at 1.47371 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 1.48307 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish Engulfing’ candle chart pattern is existing. The chart forms ‘Bearish Engulfing’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48896 |
| 2nd High | 1.48587 |
| Next High | 1.48307 |
| Current Price | 1.47927 |
| Next Low | 1.47371 |
| 2nd Low | 1.47226 |
| 3rd Low | 1.47224 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing