EUR/CAD – 30M – SELL

The combination Euro/Canadian Dollar (EUR/CAD) moves from the bearish trendline downwards

A continuation of the downward movement down to the next support line at 1.61455 will continue.

Caution: A possible change in the direction of resistance at 1.61681 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Bearish Engulfing’ chart pattern is detected. The chart forms ‘Bearish Engulfing’. this is a bearish signal. The 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%.

1.61681 – 1.61757 – 1.62072 – 1.61455 – 1.61695 – 1.62224 —
1.61436 – 1.61626 —
41.410766524159 – 55.072059902386 —
– —
1.61681 – 1782291600

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