EUR/CAD – 30M – SELL

Next a ‘Double top chart pattern’ chart layout is found. The formation shows ‘Double top chart pattern’. which is a negative chart scenario. The currency pair is likely to fall.

The currency pair Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline downwards

A descent down to the next support level at 1.60647 is likely expected.

Caution: A possible reversal of the trend in the direction of resistance at 1.61361 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Three Outside Down’ candle pattern is discovered. The chart forms ‘Three Outside Down’. this is a bearish 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).

1.61361 – 1.61813 – 1.61722 – 1.60884 – 1.60647 – 1.60135 — 42.623492460748 – 35.420011567384 — 86.904633910332 – 53.571300576999 – 89.46360138797 – 77.310855158902

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Down – Double top chart pattern – –