EUR/CAD – 30M – SELL

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

A descending movement down to the next support at 1.61425 will persist.

Caution: A possible change in the direction of resistance at 1.61711 could happen.
Consider stop-loss settings accordingly.

Besides a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. which is often a bearish signal. The currency pair is likely to fall.

Besides a ‘Three Outside Down’ candle pattern is existing. The candles show ‘Three Outside Down’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.61711 – 1.61722 – 1.61675 – 1.61425 – 1.61364 – 1.61491 —
1.61436 – 1.61493 —
40.371325470046 – 51.453958709544 —
– —
1.61711 – 1771407000

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