USD/CAD – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 1.364155 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 1.37413 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Collapsing Doji Star’ candlestick pattern is discovered. The candles show ‘Collapsing Doji Star’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Collapsing Doji Star’ heading down is 63% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38445 |
| 2nd High | 1.37525 |
| Next High | 1.37413 |
| Current Price | 1.36893 |
| Next Low | 1.36527 |
| 2nd Low | 1.35762 |
| 3rd Low | 1.35545 |
1.37413 – 1.36048 – 1.35854 – 1.36527 – 1.35762 – 1.35545 —
1.37063 – 1.36991 —
61.211980645536 – 51.633581534359 —
– —
1.37413 – 1773428400
Trading Signals: FOREX – USD – USD/CAD – CAD – Collapsing Doji Star – – – – – – – – –