EUR/CAD – 30M – SELL

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

A continuation of the downward movement downwards to the next support at 1.59029 is certain.

Caution: A possible counter-trend in the direction of the resistance line at 1.59274 is also possible.
Consider stop-loss settings accordingly.

Additionally a ‘MACD crosses below signal’ indicator layout is existing. The indicator is ‘MACD crosses below signal’. which could be a negative chart signal. The currency pair could go down.

Additionally a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. this is usually a bearish chart scenario. The currency pair could go down.

Additionally a ‘Bearish Engulfing’ chart pattern is found. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.

1.59274 – 1.59535 – 1.59512 – 1.59029 – 1.5922 – 1.5919 —
1.59256 – 1.59187 —
48.1552241386 – 44.944510190427 —
– —
1.59274 – 1777948200

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