EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline downwards
A continuation of the downtrend downwards to the next support at 1.61139 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.61458 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘StochRSI %K falls below 0.8’ indicator signal is detected. The indicator shows ‘StochRSI %K falls below 0.8’. this is usually a bearish signal. The currency pair could go down.
Next a ‘Last Engulfing Bottom:’ candlestick pattern is found. The candles show ‘Last Engulfing Bottom:’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62214 |
| 2nd High | 1.62013 |
| Next High | 1.61458 |
| Current Price | 1.61212 |
| Next Low | 1.61139 |
| 2nd Low | 1.6111 |
| 3rd Low | 1.60742 |
1.61458 – 1.62013 – 1.6143 – 1.61139 – 1.6111 – 1.60742 —
1.61440 – 1.61388 —
51.897266619401 – 42.42706631163 —
– —
1.61458 – 1770093000
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Last Engulfing Bottom: – – – – – – – – –