USD/CAD – 1H – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline down.
The bearish trend down to the next support at 1.35762 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 1.36742 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Two Crows’ candle pattern is discovered. The chart shows ‘Two Crows’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37525 |
| 2nd High | 1.3716 |
| Next High | 1.36742 |
| Current Price | 1.36258 |
| Next Low | 1.35762 |
| 2nd Low | 1.35545 |
| 3rd Low | 1.35418 |
1.36048 – 1.35854 – 1.36013 – 1.35762 – 1.35545 – 1.35418 —
1.36337 – 1.36459 —
68.314844149142 – 72.218425647387 —
– —
1.36048 – 1773255600
Trading Signals: FOREX – USD – USD/CAD – CAD – Two Crows – – – – – – – – –