EUR/CAD – 1H – SELL

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

A continuation of the bearish trend downwards to the next support at 1.61408 is considered certain.

Caution: A possible trend reversal in the direction of the resistance line at 1.61874 could happen.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative chart signal. The currency pair is likely to fall.

In addition a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which is often a bearish signal. The currency pair could go down.

In addition a ‘Two Crows’ chart pattern is found. The chart forms ‘Two Crows’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).

1.61874 – 1.61981 – 1.62259 – 1.61408 – 1.61599 – 1.61434 —
1.61651 – 1.61740 —
47.308998307405 – 51.872901456652 —
– —
1.61874 – 1768392000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Two Crows – Head and Shoulder chart pattern – – – – – – – –