EUR/CAD – 30M – SELL

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

A continuation of the downtrend downwards to the next support at 1.59942 is considered certain.

Caution: A possible trend reversal in the direction of the resistance level at 1.60679 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

There is also a ‘StochRSI %K line crosses below %D line’ indicator layout is existing. The indicator is ‘StochRSI %K line crosses below %D line’. which is often a bearish chart scenario. The pair is likely to go down.

There is also a ‘MACD crosses below signal’ indicator layout is existing. The indicator is ‘MACD crosses below signal’. which is often a bearish chart scenario. The pair is likely to go down.

There is also a ‘Bearish Engulfing’ candle chart pattern is found. The candles form ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.

1.60679 – 1.60736 – 1.61139 – 1.60412 – 1.60463 – 1.60489 —
1.60406 – 1.60337 —
25.303327901725 – 37.793274560138 —
– —
1.60679 – 1784278800

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