EUR/CAD – 30M – SELL

The combination Euro/Canadian Dollar (EUR/CAD) moves from the bearish trendline downwards

A continuation of the bearish trend down to the next support at 1.58123 is likely expected.

Caution: A possible change in the direction of the resistance zone at 1.58798 could occur.
In the case of a trade, always set appropriate stop-loss settings.

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

Additionally a ‘Matching Low’ chart pattern is found. The candles form ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ going up is 61% (Bull & Bear Market).

1.58798 – 1.58682 – 1.59276 – 1.58123 – 1.58535 – 1.58436 —
1.58581 – 1.58714 —
51.302036151644 – 57.711517068945 —
– —
1.58798 – 1772739000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low – – – – – – – – –