USD/CAD – 30M – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) moves from the bullish trendline down.
A bearish descent down to the next support at 1.43687 will continue.
Caution: A possible change in the direction of the resistance line at 1.44093 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ candle pattern is detected. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44492 |
| 2nd High | 1.44326 |
| Next High | 1.44093 |
| Current Price | 1.44223 |
| Next Low | 1.43687 |
| 2nd Low | 1.43633 |
| 3rd Low | 1.43379 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Engulfing