EUR/CAD – 30M – SELL

The pair Euro/Canadian Dollar (EUR/CAD) moves from the bearish trendline down.

A continuation of the downward movement down to the next support line at 1.61139 will persist.

Caution: A possible trend reversal in the direction of resistance at 1.61458 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish signal. The pair is likely to go down.

Besides a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which could be a negative signal. The currency pair could go down.

Besides a ‘Bearish Engulfing’ chart pattern is existing. The candles form ‘Bearish Engulfing’. this is a bearish chart scenario. 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’ heading down is 79%.

1.61458 – 1.62013 – 1.6143 – 1.61139 – 1.6111 – 1.60742 —
1.61445 – 1.61407 —
53.7631545631 – 51.24185829484 —
– —
1.61458 – 1770093000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing – Double bottom chart pattern – – – – – – – –