EUR/CAD – 1H – SELL

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

A continuation of the downward movement down to the next support at will continue.

Caution: A possible reversal of the trend in the direction of the resistance line at 1.61549 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bearish chart signal. The currency pair could go down.

Moreover a ‘Bearish Engulfing’ candlestick chart pattern is existing. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.

1.61549 – 1.61567 – 1.62013 – 1.61167 – 1.61055 – 1.6111 —
1.61366 – 1.61556 —
51.701659506301 – 51.70283348973 —
– —
1.61549 – 1770224400

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing – Double top retreat up – – – – – – – –