EUR/CAD – 30M – SELL

The currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline downwards

A bearish descent down to the next support line at 1.6204 is likely expected.

Caution: A possible counter-trend in the direction of resistance at 1.62219 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ” indicator layout is discovered. The indicator shows ”. this is usually a bearish signal. The pair is likely to go down.

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Next a ‘StochRSI %K line crosses below %D line’ indicator layout is discovered. The indicator shows ‘StochRSI %K line crosses below %D line’. this is usually a bearish signal. The pair is likely to go down.

Next a ‘Evening Star’ candle chart pattern is detected. The chart shows ‘Evening Star’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Evening Star’ going down is 72% (Bull & Bear Market).

1.62219 – 1.62364 – 1.62284 – 1.6204 – 1.61603 – 1.61643 —
1.62422 – 1.62596 —
69.932003492418 – 71.456176555091 —
– —
1.62219 – 1783051200

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Evening Star – – – – – – – – –