EUR/CAD – 30M – SELL

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

A descending movement downwards to the next support at 1.60743 is expected.

Caution: A possible counter-trend in the direction of the resistance line at 1.61355 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘MACD crosses below signal’ indicator signal is existing. The indicator is ‘MACD crosses below signal’. this is usually a bearish chart signal. The pair is likely to go down.

Furthermore a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.61177292 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 1.61355 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Three Outside Down’ candle chart pattern is detected. The chart shows ‘Three Outside Down’. 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 success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

1.61267 – 1.61294 – 1.61235 – 1.60743 – 1.60627 – 1.60717 —
1.61337 – 1.61402 —
65.322233960472 – 63.665697190757 —
– —
1.61267 – 1767331800

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