USD/CAD – 4H – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline downwards
A bearish descent downwards to the next support at 1.43349 is expected.
Caution: A possible change in the direction of the resistance level at 1.44669 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Matching Low’ candle pattern is detected. The candles show ‘Matching Low’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.44669 |
| Current Price | 1.43844 |
| Next Low | 1.43349 |
| 2nd Low | 1.41193 |
| 3rd Low | 1.40100 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Matching Low