EUR/CAD – 30M – BUY

Additionally a ‘Double bottom retreat down’ chart formation is found. The chart picture forms ‘Double bottom retreat down’. which is a negative pattern signal. The currency pair is likely to fall.

Additionally a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which could be a negative chart signal. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Current target is 1.61330008 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support level at 1.61453 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Matching Low’ candle chart pattern is existing. The chart shows ‘Matching Low’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).

1.61453 – 1.61701 – 1.61601 – 1.61261 – 1.61229 – 1.61295 —
1.61384 – 1.61565 —
51.06976420599 – 63.63183711783 —
– —
1.61453 – 1772146800

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low – Double bottom retreat down – – – – – – – –