EUR/CAD – 30M – SELL

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

A bearish trend downwards to the next support at will persist.

Caution: A possible reversal of the trend in the direction of resistance at 1.60913 should be noted.
Consider stop-loss settings accordingly.

Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish chart scenario. The pair is likely to go down.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Current target is 1.59701774 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support line at 1.60913 should be noted.
Consider stop-loss settings accordingly.

Then a ‘Three Black Crows’ candle chart pattern is existing. The chart shows ‘Three Black Crows’. which is a negative 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 Black Crows’ going down is 82%.

1.60913 – 1.60640 – 1.59603 – 1.60104 – 1.59422 – 1.59373

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows – Rising Wedge Chart Pattern