EUR/CAD – 1H – SELL

The combination Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards

A descending movement down to the next support at 1.61364 will continue.

Caution: A possible counter-trend in the direction of resistance at 1.61722 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart scenario. The currency pair is likely to fall.

Also there is a ‘StochRSI %K falls below 0.8’ indicator signal is detected. The indicator is ‘StochRSI %K falls below 0.8’. this is usually a bearish chart scenario. The currency pair is likely to fall.

Also there is a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.61341 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support line at 1.61722 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Three Black Crows’ candlestick chart pattern is found. The candles form ‘Three Black Crows’. 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 probability of ‘Three Black Crows’ going down is 82%.

1.61722 – 1.61642 – 1.61761 – 1.61364 – 1.61379 – 1.61327 —
1.61645 – 1.61696 —
54.630559109586 – 50.082232040002 —
– —
1.61722 – 1771344000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows – Double top retreat up – – – – – – – –