USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the bearish trendline down.
A continuation of the downward movement downwards to the next support level at 1.40281 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 1.40495 is also possible.
Consider stop-loss settings accordingly.
And also a ‘Tweezers Top’ chart pattern is existing. The chart shows ‘Tweezers Top’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41047 |
| 2nd High | 1.41006 |
| Next High | 1.40495 |
| Current Price | 1.40291 |
| Next Low | 1.40281 |
| 2nd Low | 1.3971 |
| 3rd Low | 1.39265 |
1.40495 – 1.41006 – 1.41047 – 1.40281 – 1.40283 – 1.40344 —
1.40338 – 1.40305 —
38.108294619693 – 40.159729511605 —
– —
1.40495 – 1764244800
Trading Signals: FOREX – USD – USD/CAD – CAD – Tweezers Top – – – – – – – – –