EUR/CAD – 30M – BUYCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 1.48693 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of support at 1.49362 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Matching Low’ candle pattern is existing. The candles show ‘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 likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50378 |
| 2nd High | 1.49791 |
| Next High | 1.49362 |
| Current Price | 1.49185 |
| Next Low | 1.48319 |
| 2nd Low | 1.47687 |
| 3rd Low | 1.47595 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low