EUR/CAD – 1H – SELL

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

A continuation of the bearish trend downwards to the next support level at 1.61738 is certain.

Caution: A possible counter-trend in the direction of the resistance zone at 1.63095 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘%K crosses below %D’ indicator layout is found. The indicator shows ‘%K crosses below %D’. which is often a bearish signal. The currency pair could go down.

Besides a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. which is often a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.61738 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the support line at 1.63095 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Three Black Crows’ candlestick chart pattern is detected. The candles form ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.

1.63095 – 1.63378 – 1.62557 – 1.61738 – 1.62498 – 1.62079 —
1.62082 – 1.62175 —
36.644654023651 – 47.57946868995 —
– —
1.63095 – 1763445600

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows – Double bottom chart pattern – – – –