USD/CAD – 30M – SELLFurthermore a ‘Double top chart pattern’ chart formation is found. The chart forms ‘Double top chart pattern’. this is a bearish signal. The currency pair is likely to fall.
The combination US Dollar/Canadian Dollar (USD/CAD) moves from the bearish trendline down.
A continuation of the downward movement downwards to the next support at 1.34929 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 1.35577 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish Engulfing’ candlestick pattern is detected. The chart forms ‘Bearish Engulfing’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36734 |
| 2nd High | 1.35761 |
| Next High | 1.35577 |
| Current Price | 1.35216 |
| Next Low | 1.34929 |
| 2nd Low | 1.34812 |
| 3rd Low |
1.35577 – 1.35761 – 1.35679 – 1.35229 – 1.3548 – 1.35524 —
1.35259 – 1.35255 —
30.416985820746 – 40.286680943224 —
– —
1.35577 – 1770764400
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Engulfing – Double top chart pattern – – – – – – – –