EUR/CAD – 1H – SELL

Moreover a ‘StochRSI %K line crosses below %D line’ indicator layout is detected. The indicator shows ‘StochRSI %K line crosses below %D line’. 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 is considered certain. Current target is 1.597975 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of support at 1.60566 could occur.
Consider stop-loss settings accordingly.

Moreover a ‘Bearish Harami’ chart pattern is found. The candles form ‘Bearish Harami’. this 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 ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).

1.60566 – 1.60287 – 1.59535 – 1.60020 – 1.59055 – 1.59029 —
1.60293 – 1.60250 —
48.06990991582 – 48.197452879309 —
1.60020 – 1778184000 —
1.60566 – 1778176800

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Harami – – – – – – – – –