USD/CAD – 30M – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline downwards
A descent down to the next support at 1.43379 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.44326 should always be considered.
Consider stop-loss settings accordingly.
Additionally a ‘Last Engulfing Bottom:’ candlestick chart pattern is found. The chart forms ‘Last Engulfing Bottom:’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44492 |
| Next High | 1.44326 |
| Current Price | 1.43900 |
| Next Low | 1.43379 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.43043 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Last Engulfing Bottom: