EUR/CAD – 1H – SELL

The combination Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline down.

A continuation of the bearish trend downwards to the next support level at 1.56676 is likely expected.

Caution: A possible trend reversal in the direction of the resistance zone at 1.57175 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘StochRSI %K line crosses below %D line’ indicator layout is found. The indicator shows ‘StochRSI %K line crosses below %D line’. which is often a bearish signal. The currency pair is likely to fall.

Additionally a ‘Three Black Crows’ chart pattern is found. The chart shows ‘Three Black Crows’. which is a negative 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’ heading down is 82%.

1.57175 – 1.57937 – 1.58343 – 1.56676 – 1.56663 – 1.5751 —
1.57007 – 1.57071 —
48.074533518378 – 52.295939016189 —
– —
1.57175 – 1773324000

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