EUR/CAD – 1H – BUY

The combination Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards

A bearish descent downwards to the next support level at 1.56060 will continue.

Caution: A possible counter-trend in the direction of resistance at 1.56919 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Also there is a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which is often a bearish chart signal. The currency pair is likely to fall.

Also there is a ‘Shooting Star’ chart pattern is discovered. The chart forms ‘Shooting Star’. which is a negative signal. The currency pair is likely to fall. 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).

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

1.56919 – 1.56899 – 1.56580 – 1.56060 – 1.55900 – 1.55756

Download EUR/CAD Signal Image

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