USD/CAD – 30M – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the descending trendline down.
A continuation of the bearish trend down to the next support level at 1.39981 will continue.
Caution: A possible counter-trend in the direction of resistance at 1.40313 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ candlestick chart pattern is detected. The chart shows ‘Bearish Engulfing’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.40775 |
| 2nd High | 1.40651 |
| Next High | 1.40313 |
| Current Price | 1.40094 |
| Next Low | 1.39981 |
| 2nd Low | 1.39508 |
| 3rd Low | 1.39273 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Engulfing