EUR/CAD – 30M – SELL

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

A descent down to the next support at 1.61077 will persist.

Caution: A possible counter-trend in the direction of the resistance level at 1.61396 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which could be a negative chart signal. The pair is likely to go down.

Also there is a ‘Bearish Engulfing’ candle chart pattern is found. The candles show ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.

1.61396 – 1.61324 – 1.61567 – 1.61077 – 1.61055 – 1.61139 —
1.61323 – 1.61393 —
51.126038891742 – 59.314330878394 —
– —
1.61396 – 1770188400

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