USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) jumps from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at 1.35451 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 1.35809 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish Engulfing’ chart pattern is existing. The chart shows ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36742 |
| 2nd High | 1.36063 |
| Next High | 1.35809 |
| Current Price | 1.35551 |
| Next Low | 1.35451 |
| 2nd Low | 1.35039 |
| 3rd Low | 1.34929 |
1.35809 – 1.36063 – 1.36742 – 1.35451 – 1.36443 – 1.36531 —
1.35809 – 1.35627 —
48.94105236728 – 48.375828139472 —
1.35809 – 1773055800 —
– 1773055800
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Engulfing – – – – – – – – –