USD/CAD – 30M – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline downwards
A bearish descent downwards to the next support line at 1.43439 will persist.
Caution: A possible counter-trend in the direction of resistance at 1.44352 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘On Neck’ candlestick pattern is detected. The candles show ‘On Neck’. 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 ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.44669 |
| Next High | 1.44352 |
| Current Price | 1.43692 |
| Next Low | 1.43439 |
| 2nd Low | 1.43043 |
| 3rd Low | 1.42984 |