There is also a ‘Inverse Head and Shoulder chart pattern’ chart layout is found. The chart forms ‘Inverse Head and Shoulder chart pattern’. this is a bullish chart scenario. The currency pair is likely to go up.
There is also a ‘Shooting Star’ candlestick pattern is found. The candles show ‘Shooting Star’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.40045 |
| 2nd High | 1.38613 |
| Next High | 1.37977 |
| Current Price | 1.37699 |
| Next Low | 1.36173 |
| 2nd Low | 1.35395 |
| 3rd Low |
1.37590 – 1.37543 – 1.37977 – 1.36173 – 1.36782 – 1.35395 — 46.960365120859 – 71.739397406899 — 92.896308796405 – 95.967702719764 – 82.056115514634 – 91.604844690688
Trading Signals: FOREX – USD – USD/CAD – CAD – Shooting Star – Inverse Head and Shoulder chart pattern – –