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EUR/CAD closed lower yesterday, candle pattern further suggests that the downtrend continues?

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EUR/CAD is forming a falling wedge on the D1 chart. But the price has not broken above the wedge at the moment. It is predicted that the price will touch below the wedge and then pull back further above the breakout wedge. Ichimoku indicator, the Tenkan-sen line forms a death cross with the base line, and the encounter line is below the price. The trend is mostly bearish. In addition, the RSI indicator is conducive to pushing prices down. MACD indicator bears volume successfully broke above the signal line. The shorting trend is strong.
The 200MA indicator on the H1 chart is above the price, indicating that the trend is in a downtrend. The RSI indicator also helps push prices down.

All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.

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Risk Warning : Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. 

Risk Warning:
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Lepanto Financial Advisers Limited is the holding company of Ultimate Pinnacle Limited. (Address: Fifth Floor, Suite 23, 63/66 Hatton Garden, London, England, EC1N 8LE). All services and products accessible through the site www.upfxtrade.com are provided by Ultimate Pinnacle Limited with the registered address Suite 305, Griffith Corporate Center P.O Box 1510, Beachmont Kingstown St.Vincent & the Grenadines.
Ultimate Pinnacle Limited is a limited liability company established in Belize as an operating subsidiary within the Lepanto Group of companies (collectively “Ultimate Pinnacle”) under Registration No. 173474 and having its registered address at No. 1 Corner of Hutson Street and Marine Parade, Belize City, Belize.

Lepanto Group Pty Ltd is authorised and regulated by the Australian Securities & Investments Commission, ASIC (ACN: 072 424 830)

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