EUR/CAD – 30M – SELL

The pair Euro/Canadian Dollar (EUR/CAD) goes from the bearish trendline down.

A continuation of the downtrend down to the next support line at 1.57202 is expected.

Caution: A possible trend reversal in the direction of resistance at 1.57790 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 1.5723428 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support line at 1.57790 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is found. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which is often a bearish signal. The pair is likely to go down.

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

Additionally a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. which is often a bearish chart scenario. The pair is likely to go down.

1.57790 – 1.57872 – 1.57983 – 1.57202 – 1.57085 – 1.57003

Download EUR/CAD Signal Image

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Two Crows