EUR/CAD – 1H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
The bearish trend down to the next support at 1.48752 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 1.50179 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bearish Engulfing’ candle pattern is discovered. The candles show ‘Bearish Engulfing’. which is a bearish pattern signal. 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 | 1.51400 |
| 2nd High | 1.50590 |
| Next High | 1.50179 |
| Current Price | 1.49388 |
| Next Low | 1.48752 |
| 2nd Low | 1.48347 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing