EUR/CAD – 1H – SELL

The pair Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline down.

A continuation of the bearish trend down to the next support level at 1.61055 is certain.

Caution: A possible reversal of the trend in the direction of the resistance zone at 1.61567 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Three Outside Down’ candle chart pattern is detected. The chart shows ‘Three Outside Down’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.61567 – 1.62013 – 1.63936 – 1.61055 – 1.6111 – 1.60742 —
1.61198 – 1.61327 —
45.298362310026 – 51.945721637411 —
– —
1.61567 – 1770116400

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