USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline down.
A descent downwards to the next support at 1.43349 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 1.44329 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bullish Harami’ candlestick chart pattern is discovered. The chart shows ‘Bullish Harami’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Harami’ heading 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