EUR/CAD – 1H – SELL

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

A descending movement downwards to the next support at 1.61379 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance line at 1.61642 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which could be a negative chart signal. The pair is likely to go down.

Furthermore a ‘Bearish Engulfing’ candlestick pattern is found. 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%.

1.61642 – 1.61761 – 1.61783 – 1.61379 – 1.61327 – 1.60899 —
1.61580 – 1.61619 —
52.29082249933 – 52.87648868945 —
– —
1.61642 – 1771246800

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing – Symmetrical Triangle Chart Pattern – – – – – – – –