EUR/CAD – 1H – SELL

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

A bearish descent downwards to the next support at 1.57176 will continue.

Caution: A possible trend reversal in the direction of the resistance line at 1.59296 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Bearish Engulfing’ chart pattern is detected. The chart shows ‘Bearish Engulfing’. 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 chance of ‘Bearish Engulfing’ going down is 79%.

1.59296 – 1.58265 – 1.58177 – 1.57176 – 1.5718 – 1.57037 —
1.58818 – 1.58692 —
56.851240524772 – 49.954246827696 —
– —
1.59296 – 1773968400

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing – – – – – – – – –