USD/CAD – 1H – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline downwards
A descending movement down to the next support level at 1.43349 is considered certain.
Caution: A possible change in the direction of the resistance line at 1.44329 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bullish Harami’ chart pattern is found. The candles show ‘Bullish Harami’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Harami’ heading up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44352 |
| Next High | 1.44329 |
| Current Price | 1.43577 |
| Next Low | 1.43349 |
| 2nd Low | 1.43043 |
| 3rd Low | 1.42165 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Harami