EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline downwards
A continuation of the downtrend down to the next support at 1.47177 is expected.
Caution: A possible change in the direction of resistance at 1.48473 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candle chart pattern is found. The candles show ‘Bearish Engulfing’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48896 |
| 2nd High | 1.48585 |
| Next High | 1.48473 |
| Current Price | 1.47739 |
| Next Low | 1.47177 |
| 2nd Low | 1.45943 |
| 3rd Low | 1.45355 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing