EUR/CAD – 1H – SELL

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

A continuation of the downtrend down to the next support level at 1.59889 is expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 1.60271 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Two Crows’ candlestick chart pattern is existing. The chart forms ‘Two Crows’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).

1.60271 – 1.60382 – 1.60235 – 1.59889 – 1.59929 – 1.59654 —
1.59847 – 1.59807 —
30.023641900635 – 39.974054860689 —
– —
1.60271 – 1777273200

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Two Crows – Rising Wedge Chart Pattern – – – – – – – –