EUR/CAD – 30M – BUYCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Current target is 1.57493 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of support at 1.57872 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative signal. The pair is likely to go down.
Furthermore a ‘Matching Low’ candle pattern is existing. The chart shows ‘Matching Low’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.59508 |
| 2nd High | 1.57983 |
| Next High | 1.57872 |
| Current Price | 1.57669 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.57872 – 1.57983 – 1.57481 – 1.57202 – 1.57085 – 1.57003
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low