EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline downwards
A descent down to the next support level at 1.49301 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.49925 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish Engulfing’ candle pattern is discovered. The candles show ‘Bearish Engulfing’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.51400 |
| 2nd High | 1.49996 |
| Next High | 1.49925 |
| Current Price | 1.49769 |
| Next Low | 1.49301 |
| 2nd Low | 1.49205 |
| 3rd Low | 1.48758 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing