USD/CAD – 1H – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline down.
A descending movement downwards to the next support at 1.36031 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 1.36734 could occur.
Consider stop-loss settings accordingly.
Next a ‘StochRSI %K line crosses below %D line’ indicator layout is discovered. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative chart signal. The currency pair could go down.
Next a ‘Bearish Engulfing’ candlestick chart pattern is existing. The candles show ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37389 |
| 2nd High | 1.37243 |
| Next High | 1.36734 |
| Current Price | 1.36378 |
| Next Low | 1.36031 |
| 2nd Low | 1.35931 |
| 3rd Low | 1.35551 |
1.36372 – 1.36355 – 1.36186 – 1.36031 – 1.35931 – 1.35551 —
1.36359 – 1.36453 —
61.62468346502 – 63.942277220666 —
– —
1.36372 – 1770973200
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Engulfing – Double bottom retreat down – – – – – – – –