EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline down.
A bearish movement down to the next support line at 1.48150 will persist.
Caution: A possible reversal of the trend in the direction of resistance at 1.48465 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Last Engulfing Bottom:’ candlestick chart pattern is discovered. The chart shows ‘Last Engulfing Bottom:’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49251 |
| 2nd High | 1.48597 |
| Next High | 1.48465 |
| Current Price | 1.48249 |
| Next Low | 1.48150 |
| 2nd Low | 1.48022 |
| 3rd Low | 1.47911 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Last Engulfing Bottom: