EUR/CAD – 1H – SELL

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

A bearish movement down to the next support level at 1.60647 will persist.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.61813 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart scenario. The currency pair could go down.

Furthermore a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. this is usually a bearish chart signal. The currency pair is likely to fall.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.60548 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.61813 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Furthermore a ‘Three Black Crows’ candlestick pattern is existing. The candles show ‘Three Black Crows’. 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 ‘Three Black Crows’ going down is 82%.

1.61813 – 1.61118 – 1.61230 – 1.60647 – 1.59283 – 1.60168 — 42.983037231423 – 36.175235168682 — 46.676469139992 – 35.018162629832 – 32.338809839162 – 38.349040339906

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows – – –