EUR/CAD – 1H – SELL

The pair Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline down.

A continuation of the downward movement down to the next support level at 1.5922 is expected.

Caution: A possible counter-trend in the direction of the resistance line at 1.59881 could happen.
Consider stop-loss settings accordingly.

Then a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. which is often a bearish chart scenario. The currency pair is likely to fall.

Then a ‘Shooting Star’ candlestick chart pattern is detected. The chart shows ‘Shooting Star’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).

1.59881 – 1.60034 – 1.60311 – 1.5922 – 1.59158 – 1.59492 —
1.59384 – 1.59419 —
48.130211616702 – 48.865220143757 —
– —
1.59881 – 1777654800

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Shooting Star – – – – – – – – –