EUR/CAD – 30M – SELL

The currency pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline downwards

The bearish trend downwards to the next support level at 1.61113 is likely expected.

Caution: A possible trend reversal in the direction of resistance at 1.61556 should always be considered.
Consider stop-loss settings accordingly.

Then a ‘StochRSI %K line crosses below %D line’ indicator layout is found. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative signal. The pair is likely to go down.

Then a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which is often a bearish chart signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is likely expected. Current target is 1.61453494 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of support at 1.61556 should always be considered.
Consider stop-loss settings accordingly.

Then a ‘Bearish Engulfing’ candlestick pattern is existing. The chart forms ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

1.61556 – 1.61549 – 1.61396 – 1.61113 – 1.61167 – 1.6118 —
1.61532 – 1.61562 —
62.534853448771 – 61.381386588455 —
– —
1.61556 – 1770289200

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing – Double top retreat up – – – – – – – –