EUR/CAD – 30M – SELL

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

A continuation of the bearish trend down to the next support line at 1.60789 is likely expected.

Caution: A possible change in the direction of the resistance level at 1.61205 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. which is often a bearish chart signal. The currency pair is likely to fall.

Moreover a ‘Tweezers Top’ chart pattern is discovered. The chart shows ‘Tweezers Top’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).

1.61205 – 1.6102 – 1.61326 – 1.60789 – 1.60713 – 1.60641 —
1.61200 – 1.61164 —
64.192560792609 – 60.644517472763 —
– —
1.61205 – 1780511400

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top – – – – – – – – –