USD/CAD – 1H – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline down.
A bearish movement down to the next support level at 1.40515 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.40828 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bullish Tri-Star’ candlestick chart pattern is found. The candles form ‘Bullish Tri-Star’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Tri-Star’ going up is 60% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41778 |
| 2nd High | 1.40893 |
| Next High | 1.40828 |
| Current Price | 1.40208 |
| Next Low | 1.40515 |
| 2nd Low | 1.40089 |
| 3rd Low | 1.39847 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Tri-Star