USD/CAD – 30M – SELLAdditionally a ‘Rising Wedge Chart Pattern’ chart formation is detected. The chart picture forms ‘Rising Wedge Chart Pattern’. this is a bearish chart scenario. The currency pair is likely to go down.
The currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline downwards
The bearish trend down to the next support at 1.37026 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.37298 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which could be a negative chart signal. The currency pair is likely to fall.
Additionally a ‘Three Black Crows’ candlestick chart pattern is found. The candles show ‘Three Black Crows’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37425 |
| 2nd High | 1.37314 |
| Next High | 1.37298 |
| Current Price | 1.37123 |
| Next Low | 1.37026 |
| 2nd Low | 1.36341 |
| 3rd Low | 1.35563 |
1.37298 – 1.36717 – 1.36931 – 1.37026 – 1.36341 – 1.35563
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows