EUR/CAD – 30M – SELL

Then a ‘Rising Wedge Chart Pattern’ chart layout is detected. The formation shows ‘Rising Wedge Chart Pattern’. which is a negative pattern signal. The currency pair is likely to fall.

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

A bearish movement down to the next support at 1.60146 is likely expected.

Caution: A possible counter-trend in the direction of the resistance level at 1.61086 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which is often a bearish chart signal. The currency pair is likely to fall.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 1.6021354 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support level at 1.61086 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Three Black Crows’ candlestick pattern is detected. The chart forms ‘Three Black Crows’. 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 likelyhood of ‘Three Black Crows’ heading down is 82%.

1.61086 – 1.60970 – 1.60631 – 1.60625 – 1.60146 – 1.59976

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