EUR/CAD – 1H – SELL

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

A bearish trend downwards to the next support at 1.62034 is considered certain.

Caution: A possible reversal of the trend in the direction of resistance at 1.62567 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘StochRSI %K line crosses below %D line’ indicator layout is detected. The indicator is ‘StochRSI %K line crosses below %D line’. this is usually a bearish chart signal. The currency pair could go down.

Moreover a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which could be a negative chart signal. The currency pair is likely to fall.

Moreover a ‘Last Engulfing Top’ candlestick chart pattern is existing. The chart forms ‘Last Engulfing Top’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).

1.62567 – 1.62432 – 1.61995 – 1.62034 – 1.60746 – 1.60684 —
1.62462 – 1.62553 —
57.708567303 – 60.215902579591 —
– —
1.62567 – 1781625600

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Last Engulfing Top – – – – – – – – –