EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards
The bearish trend downwards to the next support at 1.48730 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.49734 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Matching Low’ chart pattern is discovered. The chart shows ‘Matching Low’. this is a bullish pattern 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 | 1.49996 |
| 2nd High | 1.49907 |
| Next High | 1.49734 |
| Current Price | 1.49209 |
| Next Low | 1.48730 |
| 2nd Low | 1.48325 |
| 3rd Low | 1.47883 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low