EUR/CAD – 1H – SELL

The combination Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline downwards

A bearish trend downwards to the next support level at 1.61379 is considered certain.

Caution: A possible counter-trend in the direction of the resistance line at 1.61642 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘StochRSI %K line crosses below %D line’ indicator layout is detected. The indicator shows ‘StochRSI %K line crosses below %D line’. which is often a bearish chart scenario. The currency pair is likely to fall.

Moreover a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The currency pair is likely to fall.

Moreover a ‘Three Outside Down’ candlestick chart pattern is detected. The chart shows ‘Three Outside Down’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

1.61642 – 1.61761 – 1.61783 – 1.61379 – 1.61327 – 1.60899 —
1.61600 – 1.61722 —
44.150071322317 – 60.28529225875 —
– —
1.61642 – 1771246800

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