USD/CAD – 1H – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the bearish trendline down.
A continuation of the bearish trend downwards to the next support level at will persist.
Caution: A possible trend reversal in the direction of resistance at 1.36671 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is existing. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bearish chart scenario. The currency pair could go down.
Next a ‘Two Crows’ chart pattern is detected. The candles form ‘Two Crows’. 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 success rate of a ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37977 |
| 2nd High | 1.37590 |
| Next High | 1.36671 |
| Current Price | 1.36508 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.36671 – 1.37590 – 1.37543 – 1.35907 – 1.35997 – 1.36273