EUR/CAD – 30M – SELL

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

A bearish movement down to the next support at 1.59603 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.60129 should be noted.
Consider stop-loss settings accordingly.

Next a ‘Bearish Engulfing’ candlestick pattern is existing. The candles form ‘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 probability of ‘Bearish Engulfing’ heading down is 79%.

1.60129 – 1.59935 – 1.59936 – 1.59603 – 1.59379 – 1.59571 —
1.59862 – 1.59936 —
55.605910928729 – 56.943011856761 —
– —
1.60129 – 1774636200

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