EUR/CAD – 1H – SELL

The pair Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline down.

A continuation of the downward movement downwards to the next support at 1.55656 will persist.

Caution: A possible reversal of the trend in the direction of the resistance line at 1.57598 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.55656 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.57598 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Two Crows’ candlestick chart pattern is found. The chart forms ‘Two Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).

There is also a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. which could be a negative chart scenario. The currency pair is likely to fall.

1.57598 – 1.57144 – 1.57414 – 1.56084 – 1.56668 – 1.56375

Download EUR/CAD Signal Image

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