USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline downwards
A bearish trend down to the next support line at 1.40089 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.40755 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Evening Star’ chart pattern is detected. The candles show ‘Evening Star’. 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 ‘Evening Star’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41279 |
| 2nd High | 1.40893 |
| Next High | 1.40755 |
| Current Price | 1.40726 |
| Next Low | 1.40089 |
| 2nd Low | 1.39847 |
| 3rd Low | 1.39802 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Evening Star