EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
A bearish trend downwards to the next support line at 1.49646 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.51400 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Matching Low’ candlestick pattern is discovered. The candles show ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.51696 |
| Next High | 1.51400 |
| Current Price | 1.50243 |
| Next Low | 1.49646 |
| 2nd Low | 1.49301 |
| 3rd Low | 1.49205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low