USD/CAD – 1H – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline down.
A bearish descent down to the next support at 1.43349 will continue.
Caution: A possible trend reversal in the direction of resistance at 1.44329 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bullish Harami’ candle pattern is found. The chart forms ‘Bullish Harami’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Harami’ going up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44352 |
| Next High | 1.44329 |
| Current Price | 1.43577 |
| Next Low | 1.43349 |
| 2nd Low | 1.43043 |
| 3rd Low | 1.42165 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Harami