EUR/CAD – 1H – SELL

The combination Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline down.

A descending movement downwards to the next support at 1.61263 is considered certain.

Caution: A possible trend reversal in the direction of the resistance zone at 1.61646 could occur.
Consider stop-loss settings accordingly.

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

Then a ‘Tweezers Top’ chart pattern is found. The chart forms ‘Tweezers Top’. which is a negative 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’ going down is 56% (Bull Market) & 55% (Bear Market).

1.61646 – 1.61612 – 1.61662 – 1.61263 – 1.61205 – 1.61294 —
1.61511 – 1.61619 —
47.828672312285 – 60.591298595435 —
– —
1.61646 – 1772046000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top – Double bottom retreat down – – – – – – – –