EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline downwards
The bearish trend down to the next support at 1.48986 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.49600 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Engulfing’ candlestick pattern is detected. The candles show ‘Bearish Engulfing’. this is a bearish pattern 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 | 1.49907 |
| 2nd High | 1.49660 |
| Next High | 1.49600 |
| Current Price | 1.49688 |
| Next Low | 1.48986 |
| 2nd Low | 1.48325 |
| 3rd Low | 1.47883 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing