USD/CAD – 1H – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline downwards
A descent down to the next support line at 1.43632 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.44329 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bearish SBS White Lines’ candlestick chart pattern is found. The candles show ‘Bearish SBS White Lines’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44352 |
| Next High | 1.44329 |
| Current Price | 1.43844 |
| Next Low | 1.43632 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.43043 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish SBS White Lines