EUR/CAD – 30M – SELL

The pair Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline down.

A continuation of the bearish trend down to the next support at 1.61113 is likely expected.

Caution: A possible counter-trend in the direction of resistance at 1.61556 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart signal. The currency pair is likely to fall.

Furthermore a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which is often a bearish signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.613165 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support zone at 1.61556 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Three Black Crows’ candle chart pattern is detected. The chart shows ‘Three Black Crows’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.

1.61556 – 1.61549 – 1.61396 – 1.61113 – 1.61167 – 1.6118 —
1.61523 – 1.61480 —
59.169186688091 – 50.963321779525 —
– —
1.61556 – 1770289200

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows – – – – – – – – –