USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the descending trendline downwards
A continuation of the downward movement down to the next support line at 1.42974 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 1.43682 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Tweezers Top’ candle pattern is detected. The chart shows ‘Tweezers Top’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44632 |
| Next High | 1.43682 |
| Current Price | 1.43461 |
| Next Low | 1.42974 |
| 2nd Low | 1.42791 |
| 3rd Low | 1.42222 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Tweezers Top