EUR/CAD – 1H – SELL

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

A bearish movement down to the next support line at 1.59379 is likely expected.

Caution: A possible change in the direction of resistance at 1.59936 is within the realm of possibility.
Consider stop-loss settings accordingly.

And also a ‘StochRSI %K line crosses below %D line’ indicator layout is discovered. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative chart scenario. The currency pair is likely to fall.

And also a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which could be a negative signal. 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 is likely expected. Current target is 1.595835 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support zone at 1.59936 is within the realm of possibility.
Consider stop-loss settings accordingly.

And also a ‘Falling Window’ candle pattern is detected. The chart shows ‘Falling Window’. which is a bearish pattern 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 ‘Falling Window’ heading down is 67% (Bull Market) and 73% (Bear Market).

1.59936 – 1.59928 – 1.60147 – 1.59379 – 1.5946 – 1.59422 —
1.59717 – 1.59904 —
49.417274384254 – 57.19556543571 —
– —
1.59936 – 1774566000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Falling Window – – – – – – – – –