USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) moves from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at 1.39251 will continue.
Caution: A possible change in the direction of the resistance level at 1.39604 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Matching Low’ candlestick pattern is found. The chart forms ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.40142 |
| 2nd High | 1.3977 |
| Next High | 1.39604 |
| Current Price | 1.39445 |
| Next Low | 1.39251 |
| 2nd Low | 1.38876 |
| 3rd Low | 1.3885 |
1.39604 – 1.3977 – 1.39691 – 1.39251 – 1.39571 – 1.39403 —
1.39553 – 1.39474 —
47.386442427891 – 43.854380214846 —
– —
1.39604 – 1764898200
Trading Signals: FOREX – USD – USD/CAD – CAD – Matching Low – – – – – – – – –