USD/CAD – 30M – SELL

The combination US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline down.

A bearish descent down to the next support line at 1.36597 will continue.

Caution: A possible counter-trend in the direction of the resistance line at 1.37181 is also possible.
Consider stop-loss settings accordingly.

Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is existing. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart signal. The currency pair could go down.

Next a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. this is usually a bearish signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 1.36467424 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 1.37181 is also possible.
Consider stop-loss settings accordingly.

Next a ‘Matching Low’ candlestick pattern is discovered. The candles show ‘Matching Low’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).

1.37181 – 1.36865 – 1.36733 – 1.36597 – 1.36404 – 1.36247 —
1.36767 – 1.36689 —
48.712468870779 – 46.604226958206 —
– —
1.37181 – 1772476200

Trading Signals: FOREX – USD – USD/CAD – CAD – Matching Low – Rising Wedge Chart Pattern – – – – – – – –