EUR/CAD – 30M – SELL

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

A bearish descent downwards to the next support line at 1.61473 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance line at 1.62623 should always be considered.
Consider stop-loss settings accordingly.

Moreover a ‘Three Outside Down’ candlestick pattern is existing. The chart shows ‘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 likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

1.62068 – 1.62066 – 1.62623 – 1.61473 – 1.61432 – 1.62002 —
1.62060 – 1.62391 —
63.293021307319 – 60.047275873606 —
– —
1.62068 – 1769130000

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