EUR/CAD – 1H – SELL

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

A continuation of the downward movement downwards to the next support line at is expected.

Caution: A possible change in the direction of resistance at 1.61308 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish signal. The currency pair could go down.

Next a ‘Tweezers Top’ candle pattern is detected. The candles show ‘Tweezers Top’. 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 ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).

1.61308 – 1.61294 – 1.61242 – 1.60627 – 1.60717 – 1.60602 —
1.60943 – 1.61126 —
49.514133032967 – 57.254315171503 —
– —
1.61308 – 1767376800

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top – Double bottom chart pattern – – – – – – – –