EUR/CAD – 30M – SELLMoreover a ‘Rising Wedge Chart Pattern’ chart layout is existing. The chart picture shows ‘Rising Wedge Chart Pattern’. which is a negative pattern signal. The currency pair is likely to go down.
The currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
A bearish movement down to the next support at 1.61046 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 1.61666 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish signal. The pair is likely to go down.
Moreover a ‘%K crosses below %D’ indicator layout is found. The indicator shows ‘%K crosses below %D’. which is often a bearish signal. The pair is likely to go down.
Moreover a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. this is usually a bearish signal. The currency pair could go down.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.611465 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of support at 1.61666 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Matching Low’ candle pattern is discovered. The candles show ‘Matching Low’. which is a positive signal. The currency pair is likely to rise. 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 | 1.61791 |
| 2nd High | 1.61783 |
| Next High | 1.61666 |
| Current Price | 1.61344 |
| Next Low | 1.61046 |
| 2nd Low | 1.60743 |
| 3rd Low | 1.60627 |
1.61666 – 1.61535 – 1.61426 – 1.61046 – 1.60743 – 1.60627 —
1.61592 – 1.61491 —
59.47838162338 – 51.367162392428 —
– —
1.61666 – 1767758400
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low – Rising Wedge Chart Pattern – – – – – – – –