EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
The bearish trend downwards to the next support level at 1.48325 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 1.49533 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The chart shows ‘Bearish Engulfing’. this is a bearish pattern 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’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49996 |
| 2nd High | 1.49907 |
| Next High | 1.49533 |
| Current Price | 1.49353 |
| Next Low | 1.48325 |
| 2nd Low | 1.47883 |
| 3rd Low | 1.47371 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing