EUR/CAD – 30M – SELL

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

A continuation of the downtrend down to the next support level at 1.62597 will continue.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.63936 could be enabled.
Consider stop-loss settings accordingly.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is discovered. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart signal. The pair is likely to go down.

Moreover a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. this is usually a bearish 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 will continue. Current target is 1.624844 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support line at 1.63936 could be enabled.
Consider stop-loss settings accordingly.

Moreover a ‘Three Black Crows’ candle chart pattern is existing. The chart forms ‘Three Black Crows’. 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 likelyhood of ‘Three Black Crows’ heading down is 82%.

1.63936 – 1.63342 – 1.63173 – 1.62597 – 1.62744 – 1.62716 —
1.63228 – 1.63027 —
50.321547677371 – 40.182023149859 —
– —
1.63936 – 1769553000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows – Inverse Head and Shoulder chart pattern – – – – – – – –