EUR/CAD – 30M – SELL

The currency pair Euro/Canadian Dollar (EUR/CAD) moves from the bearish trendline down.

A continuation of the bearish trend downwards to the next support at 1.61631 is certain.

Caution: A possible reversal of the trend in the direction of the resistance line at 1.62125 should always be considered.
Consider stop-loss settings accordingly.

Then a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. which is often a bearish chart signal. The currency pair is likely to fall.

Then a ‘Matching Low’ candlestick chart pattern is discovered. The candles form ‘Matching Low’. which is a bullish pattern signal. The pair is likely to go up. 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).

1.62125 – 1.62424 – 1.62459 – 1.61631 – 1.61941 – 1.62068 —
1.61771 – 1.61668 —
30.162328415704 – 34.491829237324 —
– —
1.62125 – 1776319200

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