USD/CAD – 1H – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline down.
A bearish descent down to the next support at 1.36875 will continue.
Caution: A possible change in the direction of the resistance zone at 1.37223 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Matching Low’ candlestick chart pattern is existing. The candles show ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37525 |
| 2nd High | 1.37413 |
| Next High | 1.37223 |
| Current Price | 1.37251 |
| Next Low | 1.36875 |
| 2nd Low | 1.3687 |
| 3rd Low | 1.368 |
1.37223 – 1.37413 – 1.36048 – 1.36875 – 1.3687 – 1.368 —
1.37443 – 1.37353 —
58.056253487572 – 53.193825906818 —
– —
1.37223 – 1773770400
Trading Signals: FOREX – USD – USD/CAD – CAD – Matching Low – – – – – – – – –