EUR/CAD – 1H – SELL

The combination Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline down.

A bearish trend down to the next support at 1.61603 is expected.

Caution: A possible trend reversal in the direction of the resistance line at 1.62697 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘MACD crosses below signal’ indicator signal is discovered. The indicator shows ‘MACD crosses below signal’. which could be a negative chart signal. The pair is likely to go down.

Moreover a ‘Last Engulfing Top’ candlestick chart pattern is found. The chart shows ‘Last Engulfing Top’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).

1.62364 – 1.6236 – 1.62064 – 1.61603 – 1.61993 – 1.61442 —
1.62409 – 1.62488 —
59.4066984807 – 60.311642345527 —
– —
1.62364 – 1783011600

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Last Engulfing Top – Rising Wedge Chart Pattern – – – – – – – –