EUR/CAD – 4H – SELL

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

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

Caution: A possible change in the direction of the resistance level at 1.61355 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative signal. The currency pair is likely to fall.

Furthermore a ‘Tweezers Top’ candle chart pattern is found. The chart shows ‘Tweezers Top’. which is a bearish 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 ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).

1.61355 – 1.61791 – 1.62146 – 1.60602 – 1.61298 – 1.61281 —
1.61267 – 1.61083 —
53.878877638531 – 48.03462968003 —
– —
1.61355 – 1767024000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top – Double bottom chart pattern – – – – – – – –