EUR/CAD – 1H – SELL

The combination Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline down.

The bearish trend down to the next support at 1.61364 will continue.

Caution: A possible counter-trend in the direction of the resistance zone at 1.61642 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

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

There is also a ‘Evening Star’ chart pattern is existing. The candles show ‘Evening Star’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Evening Star’ heading down is 72% (Bull & Bear Market).

1.61642 – 1.61761 – 1.61783 – 1.61364 – 1.61379 – 1.61327 —
1.61640 – 1.61647 —
54.75670510115 – 53.622907293336 —
– —
1.61642 – 1771246800

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Evening Star – Double bottom retreat down – – – – – – – –