EUR/CAD – 4H – SELL

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

A continuation of the bearish trend down to the next support level at is likely expected.

Caution: A possible counter-trend in the direction of the resistance level at 1.61662 could occur.
Consider stop-loss settings accordingly.

There is also a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish chart scenario. The pair is likely to go down.

There is also a ‘Last Engulfing Bottom:’ candle pattern is detected. The chart shows ‘Last Engulfing Bottom:’. which is a negative 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 ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).

1.61662 – 1.61722 – 1.61783 – 1.61205 – 1.60839 – 1.60899 —
1.61565 – 1.61566 —
53.221897987875 – 44.88887677896 —
– —
1.61662 – 1771833600

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Last Engulfing Bottom: – Symmetrical Triangle Chart Pattern – – – – – – – –