USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) jumps from the bullish trendline down.
The bearish trend downwards to the next support at 1.43827 is likely expected.
Caution: A possible change in the direction of resistance at 1.44669 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Last Engulfing Bottom:’ candlestick chart pattern is existing. The chart forms ‘Last Engulfing Bottom:’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.44669 |
| Current Price | 1.44522 |
| Next Low | 1.43827 |
| 2nd Low | 1.43687 |
| 3rd Low | 1.43633 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Last Engulfing Bottom: