EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
A bearish descent down to the next support level at 1.49538 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.49998 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles show ‘Bearish Engulfing’. which is a bearish 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 | 1.50179 |
| 2nd High | 1.50059 |
| Next High | 1.49998 |
| Current Price | 1.49723 |
| Next Low | 1.49538 |
| 2nd Low | 1.49242 |
| 3rd Low | 1.49102 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing