EUR/CAD – 4H – SELL

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

A descending movement downwards to the next support level at 1.61926 will persist.

Caution: A possible counter-trend in the direction of the resistance line at 1.63406 could occur.
Consider stop-loss settings accordingly.

There is also a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. which is often a bearish chart signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.623975 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 1.63406 could occur.
Consider stop-loss settings accordingly.

There is also a ‘Three Outside Down’ candle pattern is discovered. The chart forms ‘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).

1.63406 – 1.62557 – 1.63127 – 1.61926 – 1.61389 – 1.61452 —
1.63009 – 1.63095 —
53.755529808954 – 55.897706151149 —
– —
1.63406 – 1763064000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Down – Double bottom chart pattern – – – –