USD/CAD – 30M – BUYCorrection of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 1.402265 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance zone at 1.40452 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Falling Window’ candlestick pattern is discovered. The candles show ‘Falling Window’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Falling Window’ heading down is 67% (Bull Market) and 73% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.40775 |
| 2nd High | 1.40651 |
| Next High | 1.40452 |
| Current Price | 1.39904 |
| Next Low | 1.39802 |
| 2nd Low | 1.39508 |
| 3rd Low | 1.39273 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Falling Window