EUR/CAD – 1H – SELL

The pair Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline down.

A continuation of the bearish trend downwards to the next support at 1.60434 is expected.

Caution: A possible counter-trend in the direction of the resistance level at 1.61027 could be enabled.
Consider stop-loss settings accordingly.

Moreover a ‘Three Inside Down’ chart pattern is discovered. The chart shows ‘Three Inside Down’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).

1.61027 – 1.60817 – 1.60894 – 1.60434 – 1.60219 – 1.59351 —
1.60696 – 1.60598 —
47.646471215325 – 46.630257082612 —
– —
1.61027 – 1775469600

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Inside Down – Rising Wedge Chart Pattern – – – – – – – –