Sell EUR/CAD – 30M – SELL

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

A bearish descent down to the next support level at 1.55034 will persist.

Caution: A possible trend reversal in the direction of the resistance zone at 1.55686 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Two Crows’ candle pattern is existing. The candles form ‘Two Crows’. 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 success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).

Next a ‘Double top chart pattern’ chart layout is found. The formation shows ‘Double top chart pattern’. which is a negative pattern signal. The currency pair is likely to go down.

Next a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. which could be a negative chart scenario. The pair is likely to go down.

Support & Resistance Price Range*
3rd High 1.56536
2nd High 1.56375
Next High 1.55686
Current Price 1.55102
Next Low 1.55034
2nd Low 1.54013
3rd Low 1.51526

1.55686 – 1.56375 – 1.56536 – 1.55034 – 1.55235 – 1.55728

Download EUR/CAD Signal Image

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