USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support line at 1.41554 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 1.41814 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Evening Star’ candlestick chart pattern is detected. The chart shows ‘Evening Star’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41947 |
| 2nd High | 1.41939 |
| Next High | 1.41814 |
| Current Price | 1.41647 |
| Next Low | 1.41554 |
| 2nd Low | 1.40930 |
| 3rd Low | 1.40156 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Evening Star