FX.co ★ EURCAD H1: Bearish Pennant

The Bearish Pennant pattern has formed on the EURCAD H1 chart. A break below the pennant low at 1.6035 would signal a likely continuation of the downtrend. A Sell Stop order may be placed 10 points below the pattern low, with Take Profit set at a distance equal to the height of the flagpole.