USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline downwards
A bearish movement down to the next support at 1.40930 is certain.
Caution: A possible change in the direction of resistance at 1.41947 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Engulfing’ chart pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.41947 |
| Current Price | 1.41690 |
| Next Low | 1.40930 |
| 2nd Low | 1.40156 |
| 3rd Low | 1.40100 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Engulfing