EUR/CAD – 30M – SELL

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

The bearish trend downwards to the next support level at 1.62094 will continue.

Caution: A possible counter-trend in the direction of the resistance level at 1.63095 should always be considered.
Consider stop-loss settings accordingly.

Next a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The pair is likely to go down.

Next a ‘Three Outside Down’ candlestick pattern is discovered. The candles form ‘Three Outside Down’. this is a bearish signal. The currency pair is likely to go down. 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).

1.62394 – 1.62551 – 1.62804 – 1.62094 – 1.62406 – 1.6175 —
1.62695 – 1.62887 —
72.649701412678 – 71.457704601067 —
– —
1.62394 – 1763767800

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