EUR/CAD – 30M – SELL

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

A bearish trend downwards to the next support line at 1.6002 is considered certain.

Caution: A possible trend reversal in the direction of the resistance line at 1.60872 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘On Neck’ candlestick pattern is found. The candles show ‘On Neck’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).

1.60566 – 1.60433 – 1.60286 – 1.6002 – 1.60156 – 1.60022 —
1.60622 – 1.61487 —
74.753456596603 – 88.084096873051 —
– —
1.60566 – 1778176800

Trading Signals: FOREX – EUR – EUR/CAD – CAD – On Neck – Symmetrical Triangle Chart Pattern – – – – – – – –