USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline downwards
A bearish trend down to the next support line at 1.42222 will continue.
Caution: A possible counter-trend in the direction of resistance at 1.42504 could be enabled.
Consider stop-loss settings accordingly.
Furthermore a ‘Stick Sandwich’ candlestick chart pattern is discovered. The candles form ‘Stick Sandwich’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Stick Sandwich’ going up is 62% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.42715 |
| Next High | 1.42504 |
| Current Price | 1.42770 |
| Next Low | 1.42222 |
| 2nd Low | 1.42190 |
| 3rd Low | 1.42165 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Stick Sandwich