EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline downwards
A continuation of the downtrend downwards to the next support level at 1.47226 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 1.48016 could occur.
Consider stop-loss settings accordingly.
Next a ‘Matching Low’ candle chart pattern is detected. The candles show ‘Matching Low’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48246 |
| 2nd High | 1.48188 |
| Next High | 1.48016 |
| Current Price | 1.47732 |
| Next Low | 1.47226 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.47177 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low