USD/CAD – 30M – SELLAdditionally a ‘Head and Shoulder chart pattern’ chart pattern is discovered. The formation shows ‘Head and Shoulder chart pattern’. which is a negative signal. The pair is likely to go down.
The pair US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline downwards
The bearish trend downwards to the next support level at 1.36378 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 1.36587 could be enabled.
Consider stop-loss settings accordingly.
Additionally a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. this is usually a bullish chart scenario. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36823 |
| 2nd High | 1.36671 |
| Next High | 1.36587 |
| Current Price | 1.36463 |
| Next Low | 1.36378 |
| 2nd Low | 1.35907 |
| 3rd Low | 1.35563 |
1.36587 – 1.36671 – 1.36183 – 1.36378 – 1.35907 – 1.35997
Trading Signals: FOREX – USD – USD/CAD – CAD – – Head and Shoulder chart pattern