EUR/CAD – 30M – SELL

Moreover a ‘Rising Wedge Chart Pattern’ chart formation is found. The chart shows ‘Rising Wedge Chart Pattern’. which is a negative chart scenario. The pair is likely to go down.

The combination Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline downwards

A bearish movement downwards to the next support level at 1.60146 is expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 1.61086 could be enabled.
Consider stop-loss settings accordingly.

Moreover a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which could be a negative chart signal. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 1.6021354 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.61086 could be enabled.
Consider stop-loss settings accordingly.

Moreover a ‘Three Black Crows’ candle chart pattern is existing. The chart forms ‘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 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