USD/CAD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.39802 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 1.40198 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bullish Abandoned Baby’ chart pattern is found. The candles show ‘Bullish Abandoned Baby’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Abandoned Baby’ going up is 70% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.40651 |
| 2nd High | 1.40313 |
| Next High | 1.40198 |
| Current Price | 1.39985 |
| Next Low | 1.39802 |
| 2nd Low | 1.39508 |
| 3rd Low | 1.39273 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Abandoned Baby