EUR/CAD – 1H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support level at 1.56663 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 1.57937 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Matching Low’ chart pattern is detected. 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 likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.58798 |
| 2nd High | 1.58343 |
| Next High | 1.57937 |
| Current Price | 1.56796 |
| Next Low | 1.56663 |
| 2nd Low | 1.56118 |
| 3rd Low | 1.55998 |
1.57937 – 1.58343 – 1.58105 – 1.56663 – 1.5751 – 1.56118 —
1.56849 – 1.57064 —
34.775578758478 – 41.490880462166 —
– —
1.57937 – 1773223200
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low – – – – – – – – –