EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support level at 1.56198 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.58798 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Matching Low’ candle pattern is existing. The candles show ‘Matching Low’. this 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.60421 |
| 2nd High | 1.59276 |
| Next High | 1.58798 |
| Current Price | 1.56358 |
| Next Low | 1.56198 |
| 2nd Low | |
| 3rd Low |
1.58798 – 1.58682 – 1.59276 – 1.56198 – 1.57632 – 1.58123 —
1.57077 – 1.56653 —
17.104791276206 – 14.099704368618 —
1.56198 – 1773018000 —
1.58798 – 1772739000
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low – – – – – – – – –