EUR/CAD – 4H – SELL

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

A continuation of the downward movement down to the next support at 1.61738 is considered certain.

Caution: A possible counter-trend in the direction of the resistance zone at 1.63406 is within the realm of possibility.
Consider stop-loss settings accordingly.

Besides a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative signal. The currency pair is likely to fall.

Besides a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. which could be a negative chart signal. The pair is likely to go down.

Besides a ‘Three Outside Down’ candlestick chart pattern is found. The candles form ‘Three Outside Down’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.63406 – 1.62557 – 1.63127 – 1.61738 – 1.61926 – 1.61389 —
1.62052 – 1.62603 —
38.584623805515 – 55.238183833226 —
– —
1.63406 – 1763064000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Down – Rising Wedge Chart Pattern – – – –