EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline down.
The bearish trend down to the next support line at 1.49854 is expected.
Caution: A possible trend reversal in the direction of resistance at 1.50239 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Matching Low’ candle pattern is found. The candles form ‘Matching Low’. which is a bullish pattern 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’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50590 |
| 2nd High | 1.50308 |
| Next High | 1.50239 |
| Current Price | 1.50434 |
| Next Low | 1.49854 |
| 2nd Low | 1.49090 |
| 3rd Low | 1.48752 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low