USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the bearish trendline down.
A continuation of the downtrend down to the next support at 1.41591 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.41973 is also possible.
Consider stop-loss settings accordingly.
Next a ‘Matching Low’ candlestick chart pattern is discovered. The candles form ‘Matching Low’. this is a bullish signal. The pair is likely to go up. 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 | 1.42241 |
| 2nd High | 1.42187 |
| Next High | 1.41973 |
| Current Price | 1.42011 |
| Next Low | 1.41591 |
| 2nd Low | 1.41499 |
| 3rd Low | 1.41449 |
1.41973 – 1.42187 – 1.42241 – 1.41591 – 1.41499 – 1.41915 —
1.42033 – 1.42056 —
71.192908315935 – 63.113329196264 —
– —
1.41973 – 1783047600
Trading Signals: FOREX – USD – USD/CAD – CAD – Matching Low – – – – – – – – –