EUR/CAD – 30M – SELL

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

A bearish descent downwards to the next support at 1.59492 is expected.

Caution: A possible change in the direction of the resistance zone at 1.59781 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bearish chart signal. The currency pair could go down.

And also a ‘Support Level’ indicator layout is detected. The indicator shows ‘Support Level’. which could be a negative chart signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.596043 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 1.59781 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

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

1.59781 – 1.60207 – 1.60311 – 1.59492 – 1.59617 – 1.59386 —
1.59913 – 1.59757 —
66.628780546559 – 49.320157171292 —
– —
1.59781 – 1777516200

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