EUR/CAD – 30M – SELL

Also there is a ‘Double bottom retreat down’ chart formation is discovered. The chart picture shows ‘Double bottom retreat down’. which is a bearish signal. The pair is likely to go down.

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

A bearish descent down to the next support line at 1.57101 is likely expected.

Caution: A possible trend reversal in the direction of resistance at 1.58093 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Three Outside Down’ chart pattern is existing. The candles show ‘Three Outside Down’. which is a negative chart scenario. 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).

1.57490 – 1.56463 – 1.56666 – 1.57101 – 1.55998 – 1.56015

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