EUR/CAD – 4H – BUYCorrection of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 1.47224 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the support level at 1.50501 is also possible.
Consider stop-loss settings accordingly.
And also a ‘Matching Low’ candlestick chart pattern is found. The candles show ‘Matching Low’. which 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’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.50590 |
| Next High | 1.50501 |
| Current Price | 1.47757 |
| Next Low | 1.47224 |
| 2nd Low | 1.44868 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low