EUR/CAD – 30M – BUY

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

A bearish descent down to the next support at 1.56091 will continue.

Caution: A possible counter-trend in the direction of the resistance zone at 1.56919 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart signal. The pair is likely to go down.

Then a ‘Shooting Star’ candlestick chart pattern is detected. The chart forms ‘Shooting Star’. 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 ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).

Then a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which is often a bearish chart scenario. The currency pair could go down.

1.56515 – 1.56919 – 1.56549 – 1.56091 – 1.56060 – 1.56267

Download EUR/CAD Signal Image

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