EUR/CAD – 4H – SELL

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

A descent down to the next support at 1.61423 will persist.

Caution: A possible change in the direction of the resistance level at 1.6334 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Three Black Crows’ chart pattern is detected. The candles show ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.

1.62623 – 1.62259 – 1.62103 – 1.61423 – 1.61066 – 1.61434 —
1.62984 – 1.63515 —
73.514011044649 – 67.838055045368 —
– —
1.62623 – 1768910400

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows – Inverse Head and Shoulder chart pattern – – – – – – – –