USD/CAD – 30M – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline down.
A bearish trend down to the next support level at 1.39161 is certain.
Caution: A possible change in the direction of the resistance line at 1.39355 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Bearish Engulfing’ candlestick pattern is found. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.3952 |
| 2nd High | 1.3945 |
| Next High | 1.39355 |
| Current Price | 1.39417 |
| Next Low | 1.39161 |
| 2nd Low | 1.38456 |
| 3rd Low | 1.38209 |
1.39355 – 1.3945 – 1.39027 – 1.39161 – 1.38456 – 1.38209 —
1.39303 – 1.39427 —
54.379125372974 – 65.01657181655 —
– —
1.39355 – 1774926000
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Engulfing – – – – – – – – –