EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline down.
A continuation of the bearish trend downwards to the next support at 1.49301 is certain.
Caution: A possible change in the direction of the resistance line at 1.49633 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ candlestick pattern is existing. The chart shows ‘Bearish Engulfing’. which is a bearish pattern 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 | 1.49907 |
| 2nd High | 1.49734 |
| Next High | 1.49633 |
| Current Price | 1.49440 |
| Next Low | 1.49301 |
| 2nd Low | 1.49205 |
| 3rd Low | 1.48758 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing