EUR/CAD – 1H – SELL

The combination Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline down.

A continuation of the bearish trend down to the next support level at 1.56118 will persist.

Caution: A possible counter-trend in the direction of the resistance line at 1.58343 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Support Level’ indicator signal is discovered. The indicator shows ‘Support Level’. which could be a negative signal. The currency pair is likely to fall.

There is also a ‘Bearish Engulfing’ candle chart pattern is existing. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The 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%.

1.58343 – 1.58105 – 1.58798 – 1.5751 – 1.56118 – 1.58123 —
1.57798 – 1.57512 —
46.06166278061 – 36.778334891991 —
– —
1.58343 – 1773172800

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