USD/CAD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Current target is 1.38014388 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support line at 1.38613 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative signal. The currency pair could go down.
In addition a ‘Two Crows’ chart pattern is discovered. The chart shows ‘Two Crows’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
In addition a ‘Double top chart pattern’ chart layout is found. The formation shows ‘Double top chart pattern’. this is a bearish signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39058 |
| 2nd High | 1.38689 |
| Next High | 1.38613 |
| Current Price | 1.38157 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.38613 – 1.38454 – 1.38492 – 1.37927 – 1.37806 – 1.38278