EUR/CAD – 1H – SELL

The pair Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline downwards

A continuation of the bearish trend downwards to the next support level at 1.5922 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance line at 1.59881 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘MACD crosses below signal’ indicator signal is existing. The indicator shows ‘MACD crosses below signal’. this is usually a bearish signal. The currency pair is likely to fall.

There is also a ‘Bearish Belt Hold’ candle pattern is detected. The chart shows ‘Bearish Belt Hold’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).

1.59881 – 1.60034 – 1.60311 – 1.5922 – 1.59158 – 1.59492 —
1.59378 – 1.59443 —
45.815870842129 – 48.454566100153 —
– —
1.59881 – 1777654800

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