EUR/CAD – 1H – SELLThe combination Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
The bearish trend downwards to the next support level at 1.59283 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 1.61230 could be enabled.
Consider stop-loss settings accordingly.
Additionally a ‘Matching Low’ candle chart pattern is discovered. The chart shows ‘Matching Low’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.61230 |
| Current Price | 1.60695 |
| Next Low | 1.59283 |
| 2nd Low | 1.59114 |
| 3rd Low | 1.58741 |
1.61230 – 1.60486 – 1.61086 – 1.59283 – 1.60168 – 1.60146 — 45.977116255231 – 45.888655692633 — 0 – 0 – 1.5046541092445 – 0.4942327347058
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low – Triple top chart pattern – –