EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline down.
A bearish trend down to the next support at 1.48183 is considered certain.
Caution: A possible change in the direction of the resistance zone at 1.48428 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Engulfing’ candle pattern is found. The candles show ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. 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 | 1.48597 |
| 2nd High | 1.48465 |
| Next High | 1.48428 |
| Current Price | 1.48421 |
| Next Low | 1.48183 |
| 2nd Low | 1.48150 |
| 3rd Low | 1.48022 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing