EUR/CAD – 1H – SELL

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

A bearish trend down to the next support at 1.61423 is considered certain.

Caution: A possible counter-trend in the direction of the resistance level at 1.62918 should be noted.
Consider stop-loss settings accordingly.

Then a ‘MACD crosses below signal’ indicator signal is existing. The indicator is ‘MACD crosses below signal’. which could be a negative signal. The currency pair could go down.

Then a ‘Three Outside Down’ chart pattern is existing. The candles form ‘Three Outside Down’. this is a bearish pattern 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’ going down is 69% (Bull Market) & 70% (Bear Market).

1.62918 – 1.62068 – 1.62623 – 1.61423 – 1.61473 – 1.61432 —
1.62918 – 1.62313 —
79.758103677948 – 57.176963903016 —
1.62918 – 1769385900 —
– 1769385900

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Down – Rising Wedge Chart Pattern – – – – – – – –