EUR/CAD – 4H – SELLThe combination Euro/Canadian Dollar (EUR/CAD) goes from the bearish trendline downwards
A continuation of the downward movement downwards to the next support line at 1.48205 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 1.49734 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bearish Engulfing’ candle chart pattern is found. The chart forms ‘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 | |
| 2nd High | 1.51696 |
| Next High | 1.49734 |
| Current Price | 1.48912 |
| Next Low | 1.48205 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.44868 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing