Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Current target is 1.43641668 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 1.44419 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Last Engulfing Top’ candlestick pattern is detected. The chart forms ‘Last Engulfing Top’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 1.44669 |
2nd High | 1.44492 |
Next High | 1.44419 |
Current Price | 1.43859 |
Next Low | 1.43379 |
2nd Low | 1.43349 |
3rd Low | 1.43043 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Last Engulfing Top