USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline downwards
A descending movement downwards to the next support at 1.43989 is likely expected.
Caution: A possible trend reversal in the direction of the resistance level at 1.44202 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 1.438955 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of support at 1.44202 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Matching Low’ chart pattern is existing. The chart shows ‘Matching Low’. 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 chance of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44352 |
| 2nd High | 1.44329 |
| Next High | 1.44202 |
| Current Price | 1.44090 |
| Next Low | 1.43989 |
| 2nd Low | 1.43496 |
| 3rd Low | 1.43462 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Matching Low