EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support level at 1.48758 will persist.
Caution: A possible change in the direction of the resistance line at 1.50179 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish Engulfing’ chart pattern is existing. The chart forms ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50590 |
| 2nd High | 1.50308 |
| Next High | 1.50179 |
| Current Price | 1.49126 |
| Next Low | 1.48758 |
| 2nd Low | 1.48347 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing