EUR/CAD – 30M – SELL

The pair Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline downwards

A bearish trend downwards to the next support line at 1.61607 will continue.

Caution: A possible counter-trend in the direction of resistance at 1.62204 is within the realm of possibility.
Consider stop-loss settings accordingly.

Furthermore a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.

Furthermore a ‘Three Outside Down’ chart pattern is existing. The chart forms ‘Three Outside Down’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

1.62204 – 1.61995 – 1.61755 – 1.61607 – 1.60746 – 1.60684 —
1.62219 – 1.62389 —
63.489275646445 – 73.348631865603 —
– —
1.62204 – 1781485200

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