EUR/CAD – 1H – SELL

The combination Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards

The bearish trend down to the next support level at 1.62036 will continue.

Caution: A possible counter-trend in the direction of the resistance line at 1.63174 is also possible.
Consider stop-loss settings accordingly.

There is also a ‘Bearish Engulfing’ candlestick pattern is existing. The chart forms ‘Bearish Engulfing’. which is a negative chart scenario. 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%.

1.62918 – 1.62068 – 1.62623 – 1.62036 – 1.61423 – 1.61473 —
1.63086 – 1.63051 —
69.180846112249 – 61.551003105797 —
– —
1.62918 – 1769385900

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing – – – – – – – – –