EUR/CAD – 30M – SELL

The combination Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline down.

A continuation of the bearish trend downwards to the next support level at 1.61272 is certain.

Caution: A possible trend reversal in the direction of the resistance line at 1.61477 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Also there is a ‘Matching Low’ chart pattern is discovered. The candles show ‘Matching Low’. which is a positive 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).

1.61477 – 1.62125 – 1.62424 – 1.61272 – 1.61631 – 1.61941 —
1.61447 – 1.61341 —
42.547593591725 – 35.633038081996 —
– —
1.61477 – 1776387600

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low – – – – – – – – –