EUR/CAD – 30M – SELL

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

A continuation of the bearish trend downwards to the next support level at 1.59283 is certain.

Caution: A possible trend reversal in the direction of the resistance line at 1.60421 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘MACD crosses below signal’ indicator signal is discovered. The indicator shows ‘MACD crosses below signal’. this is usually a bearish signal. The currency pair could go down.

Next a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. which is often a bearish chart scenario. The currency pair is likely to fall.

Next a ‘Three Black Crows’ chart pattern is existing. The candles form ‘Three Black Crows’. 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 probability of ‘Three Black Crows’ heading down is 82%.

1.60421 – 1.61288 – 1.61566 – 1.59736 – 1.59879 – 1.59937 —
1.59857 – 1.59788 —
40.307429907226 – 37.534057723342 —
– —
1.60421 – 1772479800

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows – – – – – – – – –