USD/CAD – 1H – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) jumps from the bullish trendline downwards
A descending movement down to the next support line at 1.36696 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.3945 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘StochRSI %K line crosses above %D line’ indicator layout is discovered. The indicator is ‘StochRSI %K line crosses above %D line’. this is usually a bullish chart signal. The currency pair could go up.
In addition a ‘Bearish Engulfing’ candlestick pattern is found. The chart shows ‘Bearish Engulfing’. which is a bearish signal. The pair is likely to go down. 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 | 1.40142 |
| 2nd High | 1.3977 |
| Next High | 1.3945 |
| Current Price | 1.39216 |
| Next Low | 1.36696 |
| 2nd Low | 1.36527 |
| 3rd Low | 1.35762 |
1.3945 – 1.38656 – 1.3785 – 1.36696 – 1.36993 – 1.37043 —
1.39295 – 1.39289 —
65.300079605145 – 64.189226292505 —
– —
1.3945 – 1774890000
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Engulfing – – – – – – – – –