Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend will continue. Current target is 1.43443 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support line at 1.44326 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Matching Low’ chart pattern is discovered. The candles form ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 1.44669 |
2nd High | 1.44492 |
Next High | 1.44326 |
Current Price | 1.43421 |
Next Low | 1.43349 |
2nd Low | 1.43043 |
3rd Low | 1.42984 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Matching Low