EUR/CAD – 1H – BUY

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

A bearish descent downwards to the next support line at is considered certain.

Caution: A possible counter-trend in the direction of the resistance level at 1.57099 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

There is also a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is discovered. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart scenario. The pair is likely to go down.

There is also a ‘Tweezers Top’ chart pattern is existing. The candles form ‘Tweezers Top’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).

There is also a ‘Double top chart pattern’ chart pattern is found. The chart picture shows ‘Double top chart pattern’. which is a negative signal. The currency pair is likely to fall.

1.57099 – 1.56848 – 1.56726 – 1.56227 – 1.55979 – 1.56060

Download EUR/CAD Signal Image

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