USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support level at 1.36378 will persist.
Caution: A possible change in the direction of the resistance zone at 1.36671 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. which could be a negative chart scenario. The currency pair could go down.
Additionally a ‘Southern Doji’ chart pattern is detected. The candles show ‘Southern Doji’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37590 |
| 2nd High | 1.36823 |
| Next High | 1.36671 |
| Current Price | 1.36456 |
| Next Low | 1.36378 |
| 2nd Low | 1.35907 |
| 3rd Low | 1.35563 |
1.36671 – 1.36183 – 1.36823 – 1.36378 – 1.35907 – 1.35997
Trading Signals: FOREX – USD – USD/CAD – CAD – Southern Doji –