EUR/CAD – 30M – SELL

The currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bearish trendline downwards

A continuation of the downward movement downwards to the next support at 1.61364 is expected.

Caution: A possible change in the direction of resistance at 1.61722 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘StochRSI %K line crosses below %D line’ indicator layout is found. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative signal. The pair is likely to go down.

In addition a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which is often a bearish chart signal. The pair is likely to go down.

In addition a ‘Tweezers Top’ candlestick pattern is existing. The chart shows ‘Tweezers Top’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).

1.61722 – 1.61675 – 1.6163 – 1.61364 – 1.61491 – 1.61379 —
1.61601 – 1.61656 —
51.648633326099 – 54.816479479716 —
– —
1.61722 – 1771345800

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top – – – – – – – – –