USD/CAD – 4H – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the bullish trendline down.
The bearish trend down to the next support at 1.40100 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.41778 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Meeting Lines’ candle chart pattern is detected. The chart forms ‘Bearish Meeting Lines’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Meeting Lines’ heading down is 51% (Bull Market) & 53% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.41778 |
| Current Price | 1.41725 |
| Next Low | 1.40100 |
| 2nd Low | 1.39802 |
| 3rd Low | 1.39273 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Meeting Lines