EUR/CAD – 4H – SELL

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

A continuation of the downtrend downwards to the next support at 1.60899 will continue.

Caution: A possible change in the direction of the resistance line at 1.61783 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘MACD crosses below signal’ indicator layout is found. The indicator is ‘MACD crosses below signal’. which is often a bearish chart signal. The pair is likely to go down.

There is also a ‘Three Outside Down’ candlestick pattern is existing. The chart forms ‘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 likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.61783 – 1.62019 – 1.62013 – 1.60899 – 1.61016 – 1.61055 —
1.61609 – 1.61709 —
55.765876195831 – 60.748812968278 —
– —
1.61783 – 1770912000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Down – Double top retreat up – – – – – – – –