EUR/CAD – 1H – SELL

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

The bearish trend downwards to the next support line at 1.61016 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.62013 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Three Outside Down’ candlestick chart pattern is found. The candles form ‘Three Outside Down’. which is a negative pattern signal. The 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).

1.61615 – 1.61556 – 1.61549 – 1.61016 – 1.61113 – 1.61167 —
1.61522 – 1.61955 —
55.739607002186 – 72.569890903034 —
– —
1.61615 – 1770361200

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Down – Double top chart pattern – – – – – – – –