USD/CAD – 1H – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline down.
The bearish trend downwards to the next support level at 1.37899 will continue.
Caution: A possible change in the direction of the resistance level at 1.38717 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Matching Low’ candlestick pattern is existing. The chart forms ‘Matching Low’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.40142 |
| 2nd High | 1.3977 |
| Next High | 1.38717 |
| Current Price | 1.38585 |
| Next Low | 1.37899 |
| 2nd Low | 1.37512 |
| 3rd Low | 1.37448 |
1.3815 – 1.37277 – 1.37086 – 1.37899 – 1.37512 – 1.37448 —
1.38792 – 1.38663 —
72.494747325808 – 57.761114469975 —
– —
1.38150 – 1767625200
Trading Signals: FOREX – USD – USD/CAD – CAD – Matching Low – Double bottom chart pattern – – – – – – – –