EUR/CAD – 1H – SELL

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

A continuation of the bearish trend down to the next support at 1.61113 will persist.

Caution: A possible counter-trend in the direction of the resistance level at 1.61615 is also possible.
Consider stop-loss settings accordingly.

Then a ‘Tweezers Top’ candlestick pattern is discovered. The chart shows ‘Tweezers Top’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).

1.61615 – 1.61556 – 1.61549 – 1.61113 – 1.61167 – 1.61055 —
1.61318 – 1.61427 —
36.896196039229 – 55.497782371132 —
– —
1.61615 – 1770361200

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