USD/CAD – 1H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend will continue. Current target is 1.44632 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the resistance line at 1.44632 should always be considered.
Consider stop-loss settings accordingly.
Moreover a ‘Bearish SBS White Lines’ candlestick pattern is existing. The candles show ‘Bearish SBS White Lines’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.44669 |
| Next High | 1.44632 |
| Current Price | 1.44268 |
| Next Low | 1.43646 |
| 2nd Low | 1.43388 |
| 3rd Low | 1.42974 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish SBS White Lines