USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline down.
A bearish trend downwards to the next support line at 1.43646 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.44038 is within the realm of possibility.
Consider stop-loss settings accordingly.
Then a ‘Bearish Harami’ candlestick pattern is existing. The candles form ‘Bearish Harami’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44094 |
| 2nd High | 1.44045 |
| Next High | 1.44038 |
| Current Price | 1.43995 |
| Next Low | 1.43646 |
| 2nd Low | 1.43388 |
| 3rd Low | 1.42974 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Harami