EUR/CAD – 30M – SELL

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

A continuation of the bearish trend downwards to the next support line at 1.57085 is expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 1.57983 could be enabled.
Consider stop-loss settings accordingly.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.57200144 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of support at 1.57983 could be enabled.
Consider stop-loss settings accordingly.

Also there is a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart scenario. The currency pair is likely to fall.

Also there is a ‘Three Outside Down’ candle pattern is detected. The candles form ‘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 probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

Also there is a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. which is often a bearish signal. The currency pair is likely to fall.

1.57983 – 1.57481 – 1.57904 – 1.57085 – 1.57003 – 1.57124

Download EUR/CAD Signal Image

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