EUR/CAD – 30M – SELL

The combination Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline down.

A descent down to the next support at 1.61607 is likely expected.

Caution: A possible counter-trend in the direction of the resistance level at 1.62204 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘MACD crosses below signal’ indicator layout is existing. The indicator is ‘MACD crosses below signal’. which could be a negative signal. The currency pair could go down.

Additionally a ‘Bearish Engulfing’ candle chart pattern is detected. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

1.62204 – 1.61995 – 1.61755 – 1.61607 – 1.60746 – 1.60684 —
1.62056 – 1.62096 —
61.853604328095 – 65.770784900034 —
– —
1.62204 – 1781485200

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