EUR/CAD – 30M – SELL

The currency pair Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline downwards

A continuation of the downtrend downwards to the next support at 1.56676 will persist.

Caution: A possible change in the direction of the resistance line at 1.57078 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. this is usually a bearish signal. The pair is likely to go down.

Additionally a ‘Three Outside Down’ candle pattern is discovered. The candles form ‘Three Outside Down’. which is a negative signal. The pair is likely to go down. 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).

1.57078 – 1.57175 – 1.57689 – 1.56676 – 1.56663 – 1.57033 —
1.56961 – 1.57071 —
51.873172603893 – 56.474012004159 —
– —
1.57078 – 1773345600

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