USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline down.
A bearish movement down to the next support level at 1.43989 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 1.44202 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Engulfing’ candlestick chart pattern is existing. The chart shows ‘Bearish Engulfing’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44352 |
| 2nd High | 1.44329 |
| Next High | 1.44202 |
| Current Price | 1.44024 |
| Next Low | 1.43989 |
| 2nd Low | 1.43496 |
| 3rd Low | 1.43462 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Engulfing