EUR/CAD – 30M – SELL

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

The bearish trend downwards to the next support level at 1.62597 is certain.

Caution: A possible change in the direction of the resistance level at 1.63936 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘MACD crosses below signal’ indicator layout is detected. The indicator shows ‘MACD crosses below signal’. which could be a negative chart signal. The pair is likely to go down.

Moreover a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.

Moreover a ‘Three Outside Down’ candlestick pattern is detected. The candles form ‘Three Outside Down’. which is a bearish 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).

1.63936 – 1.63342 – 1.63173 – 1.62597 – 1.62744 – 1.62716 —
1.63538 – 1.63459 —
69.601365038979 – 61.593754792766 —
– —
1.63936 – 1769553000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Down – Double bottom retreat down – – – – – – – –