USD/CAD – 1H – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline downwards
The bearish trend downwards to the next support level at 1.41591 is likely expected.
Caution: A possible change in the direction of the resistance level at 1.42472 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. which could be a negative signal. The currency pair could go down.
Besides a ‘Matching Low’ chart pattern is discovered. The chart forms ‘Matching Low’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.42734 |
| 2nd High | 1.42478 |
| Next High | 1.42472 |
| Current Price | 1.42242 |
| Next Low | 1.41591 |
| 2nd Low | 1.41499 |
| 3rd Low | 1.41449 |
1.41973 – 1.42241 – 1.42348 – 1.41591 – 1.41499 – 1.41778 —
1.42109 – 1.42385 —
61.054057767709 – 69.194843899166 —
– —
1.41973 – 1783047600
Trading Signals: FOREX – USD – USD/CAD – CAD – Matching Low – – – – – – – – –