EUR/CAD – 1H – SELL

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

A continuation of the downtrend downwards to the next support line at will continue.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.60235 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish signal. The pair is likely to go down.

Furthermore a ‘StochRSI %K line crosses below %D line’ indicator signal is existing. The indicator shows ‘StochRSI %K line crosses below %D line’. which is often a bearish signal. The pair is likely to go down.

Furthermore a ‘Bearish Belt Hold’ candlestick chart pattern is existing. The chart shows ‘Bearish Belt Hold’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).

1.60235 – 1.61186 – 1.61831 – 1.59654 – 1.60238 – 1.60674 —
1.60052 – 1.60155 —
50.212838582652 – 54.036317332138 —
– —
1.60235 – 1776970800

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Belt Hold – Rising Wedge Chart Pattern – – – – – – – –