EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline downwards
A bearish descent downwards to the next support level at 1.47883 will persist.
Caution: A possible change in the direction of resistance at 1.48582 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Matching Low’ candlestick pattern is found. The candles form ‘Matching Low’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48896 |
| 2nd High | 1.48587 |
| Next High | 1.48582 |
| Current Price | 1.48349 |
| Next Low | 1.47883 |
| 2nd Low | 1.47371 |
| 3rd Low | 1.47226 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low