Sell USD/CAD – 30M – SELL

In addition a ‘Double top chart pattern’ chart layout is discovered. The chart picture forms ‘Double top chart pattern’. this is a bearish pattern signal. The pair is likely to go down.

The currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the descending trendline down.

A continuation of the downward movement down to the next support at 1.36496 will persist.

Caution: A possible counter-trend in the direction of the resistance zone at 1.36743 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. which could be a negative chart scenario. The currency pair is likely to fall.

In addition a ‘Matching Low’ chart pattern is discovered. The candles form ‘Matching Low’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

Support & Resistance Price Range*
3rd High 1.36926
2nd High 1.36900
Next High 1.36743
Current Price 1.36580
Next Low 1.36496
2nd Low 1.36342
3rd Low

1.36743 – 1.36900 – 1.36926 – 1.36496 – 1.36633 – 1.36676

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