EUR/CAD – 30M – BUYThe pair Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline down.
A bearish descent down to the next support at 1.47687 will continue.
Caution: A possible change in the direction of the resistance level at 1.48941 should always be considered.
Consider stop-loss settings accordingly.
In addition a ‘Matching Low’ candle pattern is detected. The chart shows ‘Matching Low’. which is a positive signal. The currency pair is likely to go up. 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 | 1.49791 |
| 2nd High | 1.49362 |
| Next High | 1.48941 |
| Current Price | 1.48690 |
| Next Low | 1.47687 |
| 2nd Low | 1.47595 |
| 3rd Low | 1.47371 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low