EUR/CAD – 1H – SELL

The combination Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline down.

A descent downwards to the next support line at 1.49407 is expected.

Caution: A possible counter-trend in the direction of the resistance zone at 1.50115 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Three Outside Down’ candle pattern is existing. The chart shows ‘Three Outside Down’. this is a bearish pattern signal. The currency pair is likely to fall. 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).

Download EUR/CAD Signal Image

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