EUR/CAD – 30M – BUYThe pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
A descending movement downwards to the next support at 1.48714 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.49362 is also possible.
Consider stop-loss settings accordingly.
Also there is a ‘Matching Low’ candlestick chart pattern is found. The candles show ‘Matching Low’. which is a positive chart scenario. 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 | 1.50378 |
| 2nd High | 1.49791 |
| Next High | 1.49362 |
| Current Price | 1.47975 |
| Next Low | 1.48714 |
| 2nd Low | 1.48347 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low