EUR/CAD – 30M – SELL

The EUR/CAD 30-minute chart has fired a confluence of bearish signals, including a Trendline Break Up followed by a Trendline Retreat Down, a Double Bottom pattern that reversed, and a Double Bottom Retreat Down. Additionally, ADX shows weak trend strength, BOP has crossed below zero, STOCHF KD has crossed down, and a Fibonacci Retreat DownTrend (24%) is in play. These signals collectively suggest a bearish reversal from a recent bullish move, with momentum fading and selling pressure increasing. The trend across timeframes shows a mix: shorter timeframes (15m to 4h) are bullish but choppy or trend forming, while higher timeframes (8h to 1d) are bearish and trend forming. This divergence indicates that the bearish signal on the 30m may align with the larger downtrend, increasing the probability of a move lower. Key levels to watch are resistance at 1.60905 and support at 1.60243. A break below support could accelerate selling, while a reclaim of resistance would invalidate the bearish outlook.