USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the bearish trendline down.
A continuation of the bearish trend down to the next support level at 1.40281 is considered certain.
Caution: A possible change in the direction of the resistance zone at 1.40495 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Matching Low’ candlestick chart pattern is detected. The chart forms ‘Matching Low’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41047 |
| 2nd High | 1.41006 |
| Next High | 1.40495 |
| Current Price | 1.40289 |
| Next Low | 1.40281 |
| 2nd Low | 1.3971 |
| 3rd Low | 1.39265 |
1.40495 – 1.41006 – 1.41047 – 1.40281 – 1.40283 – 1.40344 —
1.40311 – 1.40291 —
40.203078564484 – 37.13915355188 —
– —
1.40495 – 1764244800
Trading Signals: FOREX – USD – USD/CAD – CAD – Matching Low – – – – – – – – –