USD/CAD – 1H – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) moves from the bearish trendline downwards
A continuation of the bearish trend down to the next support level at 1.36039 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.36298 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Last Engulfing Bottom:’ candlestick pattern is existing. The candles show ‘Last Engulfing Bottom:’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37142 |
| 2nd High | 1.37104 |
| Next High | 1.36298 |
| Current Price | 1.35848 |
| Next Low | 1.36039 |
| 2nd Low | 1.35499 |
| 3rd Low | 1.35418 |
1.36298 – 1.36191 – 1.37104 – 1.36039 – 1.35499 – 1.35971 —
1.36109 – 1.35991 —
41.969942674248 – 34.016930498974 —
– —
1.36298 – 1777968000
Trading Signals: FOREX – USD – USD/CAD – CAD – Last Engulfing Bottom: – – – – – – – – –