EUR/CAD – 1H – SELL

Moreover a ‘Symmetrical Triangle Chart Pattern’ chart layout is discovered. The formation shows ‘Symmetrical Triangle Chart Pattern’. which is a bearish chart scenario. The currency pair is likely to go down.

The pair Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline down.

A bearish movement downwards to the next support at 1.6111 will persist.

Caution: A possible change in the direction of resistance at 1.61567 should be noted.
Consider stop-loss settings accordingly.

Moreover a ‘StochRSI %K line crosses below %D line’ indicator signal is existing. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative chart signal. The pair is likely to go down.

Moreover a ‘Bearish Engulfing’ chart pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

1.61567 – 1.62013 – 1.63936 – 1.6111 – 1.60742 – 1.61083 —
1.61302 – 1.61290 —
40.771781304696 – 44.283761407255 —
– —
1.61567 – 1770116400

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