EUR/CAD – 1H – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
A bearish descent downwards to the next support at 1.47224 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.47827 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Matching Low’ candle pattern is existing. The chart forms ‘Matching Low’. which is a positive 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’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48587 |
| 2nd High | 1.48246 |
| Next High | 1.47827 |
| Current Price | 1.47336 |
| Next Low | 1.47224 |
| 2nd Low | 1.47177 |
| 3rd Low | 1.44868 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low