EUR/CAD – 30M – SELL

The pair Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline downwards

A continuation of the bearish trend down to the next support line at is likely expected.

Caution: A possible change in the direction of resistance at 1.57771 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 1.56775 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support level at 1.57771 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative chart scenario. The currency pair is likely to fall.

In addition a ‘Three Inside Down’ chart pattern is detected. The chart forms ‘Three Inside Down’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Inside Down’ going down is 60% (Bull Market) & 63% (Bear Market).

1.57771 – 1.58162 – 1.59319 – 1.57155 – 1.56923 – 1.56775

Download EUR/CAD Signal Image

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