EUR/CAD – 1H – SELL

Moreover a ‘Symmetrical Triangle Chart Pattern’ chart layout is found. The formation shows ‘Symmetrical Triangle Chart Pattern’. this is a bearish pattern signal. The currency pair is likely to go down.

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 1.61442 will continue.

Caution: A possible counter-trend in the direction of the resistance level at 1.6236 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘MACD crosses below signal’ indicator layout is discovered. The indicator is ‘MACD crosses below signal’. which could be a negative chart signal. The currency pair is likely to fall.

Moreover a ‘Bearish Engulfing’ candle pattern is found. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.

1.6236 – 1.62064 – 1.61817 – 1.61442 – 1.61231 – 1.61257 —
1.62351 – 1.62298 —
70.656789083882 – 66.29218193383 —
– —
1.6236 – 1782756000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing – Symmetrical Triangle Chart Pattern – – – – – – – –