USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the descending trendline downwards
A continuation of the downward movement downwards to the next support at 1.36668 is certain.
Caution: A possible change in the direction of resistance at 1.37104 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Engulfing’ candle chart pattern is detected. The candles show ‘Bearish Engulfing’. which is a bearish signal. 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’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37378 |
| 2nd High | 1.37142 |
| Next High | 1.37104 |
| Current Price | 1.36825 |
| Next Low | 1.36668 |
| 2nd Low | 1.36298 |
| 3rd Low | 1.36125 |
1.37104 – 1.36913 – 1.36357 – 1.36668 – 1.36671 – 1.36693 —
1.36757 – 1.36853 —
46.033890984284 – 55.360600976513 —
– —
1.37104 – 1777480200
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Engulfing – – – – – – – – –