EUR/CAD – 30M – SELL

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

A descending movement downwards to the next support line at 1.59379 is certain.

Caution: A possible trend reversal in the direction of the resistance level at 1.60129 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

And also a ‘MACD crosses below signal’ indicator signal is discovered. The indicator shows ‘MACD crosses below signal’. which could be a negative chart signal. The currency pair is likely to fall.

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

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Current target is 1.59754 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support zone at 1.60129 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

And also a ‘Falling Window’ candlestick pattern is existing. The candles form ‘Falling Window’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Falling Window’ heading down is 67% (Bull Market) and 73% (Bear Market).

1.60129 – 1.59935 – 1.59936 – 1.59379 – 1.59571 – 1.5946 —
1.59889 – 1.59989 —
58.482236405484 – 62.106138386644 —
– —
1.60129 – 1774636200

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Falling Window – – – – – – – – –