EUR/CAD – 30M – SELL

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

A bearish movement down to the next support at 1.61607 is likely expected.

Caution: A possible trend reversal in the direction of the resistance line at 1.62125 is within the realm of possibility.
Consider stop-loss settings accordingly.

And also a ‘Three Outside Down’ candle pattern is found. The chart shows ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to fall. 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).

1.61755 – 1.61121 – 1.6138 – 1.61607 – 1.60746 – 1.60684 —
1.61795 – 1.61935 —
67.070978107186 – 66.168111936743 —
– —
1.61755 – 1781227800

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Down – – – – – – – – –