The pair US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline downwards
The bearish trend downwards to the next support at 1.43349 will persist.
Caution: A possible counter-trend in the direction of resistance at 1.44329 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bullish Harami’ candle chart pattern is existing. The candles show ‘Bullish Harami’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Harami’ going up is 53% (Bull Market) & 51% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 1.44669 |
2nd High | 1.44352 |
Next High | 1.44329 |
Current Price | 1.43577 |
Next Low | 1.43349 |
2nd Low | 1.43043 |
3rd Low | 1.42165 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Harami