EUR/CAD – 4H – SELL

The combination Euro/Canadian Dollar (EUR/CAD) moves from the bearish trendline downwards

A continuation of the downward movement down to the next support at 1.56118 will persist.

Caution: A possible counter-trend in the direction of resistance at 1.61701 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Three Inside Down’ candle chart pattern is found. The candles form ‘Three Inside Down’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).

1.61701 – 1.61662 – 1.61722 – 1.56118 – 1.58357 – 1.61205 —
1.58031 – 1.57836 —
48.241440082382 – 46.418805735553 —
– —
1.61701 – 1772121600

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