EUR/CAD – 4H – SELL

The combination Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline down.

A bearish movement downwards to the next support at 1.48752 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.50590 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Three Outside Down’ candlestick pattern is existing. The chart shows ‘Three Outside Down’. which is a negative pattern signal. The currency 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’ heading down is 69% (Bull Market) & 70% (Bear Market).

Download EUR/CAD Signal Image

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