EUR/CAD – 30M – SELL

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

The bearish trend downwards to the next support line at 1.5919 is likely expected.

Caution: A possible counter-trend in the direction of resistance at 1.60034 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘StochRSI %K line crosses below %D line’ indicator layout is existing. The indicator is ‘StochRSI %K line crosses below %D line’. which is often a bearish signal. The currency pair could go down.

And also a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bearish chart signal. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 1.59404742 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of support at 1.60034 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Two Crows’ chart pattern is discovered. The chart shows ‘Two Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).

1.60034 – 1.59781 – 1.60207 – 1.5919 – 1.59158 – 1.59492 —
1.59390 – 1.59881 —
52.609969762565 – 71.433655179568 —
– —
1.60034 – 1777559400

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