USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline downwards
A descent down to the next support at 1.43349 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 1.44329 could be enabled.
Consider stop-loss settings accordingly.
Next a ‘Bullish Harami’ candlestick pattern is existing. The candles form ‘Bullish Harami’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Harami’ going 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