EUR/CAD – 30M – SELL

The pair Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline downwards

A continuation of the downtrend down to the next support line at is likely expected.

Caution: A possible trend reversal in the direction of resistance at 1.61468 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart signal. The currency pair could go down.

Moreover a ‘Three Outside Down’ candle pattern is existing. The chart forms ‘Three Outside Down’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

1.61468 – 1.61196 – 1.61253 – 1.61026 – 1.60899 – 1.60971 —
1.61173 – 1.61180 —
50.035329794468 – 51.25765069886 —
– —
1.61468 – 1770831000

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