EUR/CAD – 1H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline down.
A bearish trend down to the next support line at 1.60746 will continue.
Caution: A possible trend reversal in the direction of resistance at 1.62477 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Engulfing’ chart pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a bearish 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 ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.6403 |
| 2nd High | 1.63936 |
| Next High | 1.62477 |
| Current Price | 1.62169 |
| Next Low | 1.60746 |
| 2nd Low | 1.60684 |
| 3rd Low | 1.60439 |
1.61995 – 1.61121 – 1.6138 – 1.60746 – 1.60684 – 1.60847 —
1.62217 – 1.62214 —
64.100996036964 – 58.367145612223 —
– —
1.61995 – 1781265600
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing – Rising Wedge Chart Pattern – – – – – – – –