EUR/CAD – 30M – SELL

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

A continuation of the downtrend down to the next support at 1.61077 is likely expected.

Caution: A possible trend reversal in the direction of the resistance level at 1.61396 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

And also a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which is often a bearish chart signal. The currency pair is likely to fall.

And also a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair is likely to fall.

And also a ‘Bearish Belt Hold’ candle chart pattern is existing. The chart shows ‘Bearish Belt Hold’. which is a bearish signal. 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).

1.61396 – 1.61324 – 1.61567 – 1.61077 – 1.61055 – 1.61139 —
1.61396 – 1.61318 —
58.79128304706 – 49.196057963513 —
1.61396 – 1770188400 —
– 1770188400

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Belt Hold – – – – – – – – –