USD/CAD – 30M – SELLAdditionally a ‘Double bottom retreat down’ chart formation is found. The chart forms ‘Double bottom retreat down’. which is a bearish pattern signal. The currency pair is likely to fall.
The combination US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline down.
A bearish movement down to the next support line at 1.37512 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 1.3776 is within the realm of possibility.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38225 |
| 2nd High | 1.3815 |
| Next High | 1.3776 |
| Current Price | 1.37711 |
| Next Low | 1.37512 |
| 2nd Low | 1.37448 |
| 3rd Low | 1.37 |
1.3776 – 1.3815 – 1.37475 – 1.37512 – 1.37448 – 1.37 —
1.37685 – 1.37851 —
51.869772907993 – 65.760671294719 —
– —
1.37760 – 1767666600
Trading Signals: FOREX – USD – USD/CAD – CAD – – Double bottom retreat down – – – – – – – –