EUR/CAD – 30M – SELL

The pair Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline down.

The bearish trend downwards to the next support level at 1.60625 is expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.61086 is also possible.
Consider stop-loss settings accordingly.

Also there is a ‘Three Outside Down’ candlestick chart pattern is found. The chart shows ‘Three Outside Down’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.61086 – 1.60970 – 1.60631 – 1.60625 – 1.60146 – 1.59976

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Down –