FX:USDCAD   U.S. Dollar/Canadian Dollar
108 2 0
There's a bearish engulfing bar candlestick pattern formed on USD/CAD             at the 1.1220 resistance level as well as the down sloping trend line. The 1.1220 resistance level is also the breakdown point of the triangle chart pattern. This bearish engulfing bar candlestick pattern could potentially lead the price lower in today's New York             session, but the first obstacle will be the 200 period golden moving average . The Bollinger Band is expending as well, which shows the volatility is increasing and the readings on the Average True Range (ATR) indicator also show the volatility is increasing, but at a slower pace. The long term trend is flat as the 200 period moving average remains flat while the shorter term trend is down. The Stochastic indicator shows that the price is currently overbought and that could potentially lead the price lower in today's New York             session. The current resistance level is at 1.1220 and support level is at 1.1085. The breakout of the triangle chart pattern and the bearish engulfing bar candlestick pattern could still potentially provide some selling opportunities in today's New York             session and the 1.1085 support level could serve as a target for sellers to take profits.
timwest PRO
2 years ago
Even thought the market turned up, I like how you analyzed this setup. What do you think now?
Reply
alex.a
2 years ago
If you add DXY side by side with USDCAD, it would be really appreciated.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out