EUR/CAD – 1H – SELL

The pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards

A bearish descent downwards to the next support line at 1.61603 is expected.

Caution: A possible trend reversal in the direction of resistance at 1.62364 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Bearish Engulfing’ candle chart pattern is found. The candles form ‘Bearish Engulfing’. this is a bearish pattern signal. 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%.

1.62364 – 1.6236 – 1.62064 – 1.61603 – 1.61993 – 1.61442 —
1.62331 – 1.62568 —
64.752477923381 – 61.413466239234 —
– —
1.62364 – 1783011600

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing – Symmetrical Triangle Chart Pattern – – – – – – – –