EUR/CAD – 4H – SELL

Then a ‘Rising Wedge Chart Pattern’ chart pattern is detected. The chart shows ‘Rising Wedge Chart Pattern’. which is a negative signal. The currency pair is likely to fall.

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

A bearish movement downwards to the next support at 1.59654 is expected.

Caution: A possible trend reversal in the direction of the resistance level at 1.62477 should always be considered.
Consider stop-loss settings accordingly.

Then a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. this is usually a bearish chart signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.5898934 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 1.62477 should always be considered.
Consider stop-loss settings accordingly.

Then a ‘Three Outside Down’ candle chart pattern is existing. The chart forms ‘Three Outside Down’. this is a bearish 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’ going down is 69% (Bull Market) & 70% (Bear Market).

1.62477 – 1.62353 – 1.62301 – 1.59654 – 1.60219 – 1.59351 —
1.60140 – 1.60271 —
36.442053831005 – 45.396859479494 —
– —
1.62477 – 1776196800

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