EUR/CAD – 30M – SELL

The currency pair Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline downwards

A continuation of the downtrend downwards to the next support at 1.5922 is likely expected.

Caution: A possible change in the direction of resistance at 1.59512 is within the realm of possibility.
Consider stop-loss settings accordingly.

Additionally a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is found. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative chart signal. The currency pair could go down.

Additionally a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. which could be a negative signal. The currency pair is likely to fall.

Additionally a ‘Bearish Engulfing’ candle chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.

1.59512 – 1.59881 – 1.60034 – 1.5922 – 1.5919 – 1.59158 —
1.59419 – 1.59445 —
49.283778772609 – 51.44941962444 —
– —
1.59512 – 1777885200

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