EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline downwards
A continuation of the downtrend down to the next support at 1.47371 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.48307 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Matching Low’ chart pattern is detected. The chart shows ‘Matching Low’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48896 |
| 2nd High | 1.48587 |
| Next High | 1.48307 |
| Current Price | 1.47944 |
| Next Low | 1.47371 |
| 2nd Low | 1.47226 |
| 3rd Low | 1.47224 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low