EUR/CAD – 1H – SELL

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

A bearish descent downwards to the next support line at 1.59283 is considered certain.

Caution: A possible change in the direction of the resistance level at 1.61230 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 1.602565 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of support at 1.61230 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Three Black Crows’ chart pattern is found. The candles show ‘Three Black Crows’. 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 Black Crows’ going down is 82%.

1.61230 – 1.60486 – 1.61086 – 1.59283 – 1.60168 – 1.60146 — 47.26856269958 – 46.081594407514 — 1.6086027191997 – 0 – 9.7678087120121 – 1.6279910812964

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows – Triple top chart pattern – –