USD/CAD – 30M – BUYCorrection of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.41358308 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support line at 1.41747 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Matching Low’ chart pattern is existing. The chart forms ‘Matching Low’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.41778 |
| Next High | 1.41747 |
| Current Price | 1.41673 |
| Next Low | 1.40930 |
| 2nd Low | 1.40156 |
| 3rd Low | 1.40100 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Matching Low