EUR/CAD – 1H – SELL

In addition a ‘Symmetrical Triangle Chart Pattern’ chart formation is existing. The chart picture shows ‘Symmetrical Triangle Chart Pattern’. which is a bearish pattern signal. The pair is likely to go down.

The combination Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline downwards

A descent downwards to the next support at 1.61926 is likely expected.

Caution: A possible trend reversal in the direction of resistance at 1.63095 could occur.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is discovered. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish signal. The currency pair could go down.

In addition a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which could be a negative chart signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 1.62268672 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support zone at 1.63095 could occur.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Three Outside Down’ chart pattern is existing. The candles show ‘Three Outside Down’. which is a bearish pattern signal. 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).

1.63095 – 1.63378 – 1.62557 – 1.62498 – 1.62079 – 1.61926 —
1.62997 – 1.62577 —
51.512883584289 – 39.752200916251 —
– —
1.63095 – 1763445600

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Down – Symmetrical Triangle Chart Pattern – – – –