EUR/CAD – 1H – SELL

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

A continuation of the downtrend down to the next support line at 1.60839 is likely expected.

Caution: A possible change in the direction of the resistance level at 1.61575 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

There is also a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart signal. The currency pair could go down.

There is also a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. which is often a bearish signal. The currency pair could go down.

There is also a ‘Shooting Star’ candlestick pattern is existing. The chart shows ‘Shooting Star’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).

1.61575 – 1.61711 – 1.61722 – 1.60839 – 1.60914 – 1.61307 —
1.61077 – 1.61373 —
47.87212018285 – 60.162864573602 —
– —
1.61575 – 1771488000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Shooting Star – Symmetrical Triangle Chart Pattern – – – – – – – –