Buy USD/CAD – 1H – BUY

The pair US Dollar/Canadian Dollar (USD/CAD) jumps from the descending trendline downwards

A continuation of the bearish trend down to the next support line at 1.43744 is certain.

Caution: A possible trend reversal in the direction of the resistance level at 1.44202 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Shooting Star’ candlestick chart pattern is detected. The candles form ‘Shooting Star’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).

Support & Resistance Price Range*
3rd High 1.44352
2nd High 1.44329
Next High 1.44202
Current Price 1.44021
Next Low 1.43744
2nd Low 1.43462
3rd Low 1.43349

Download USD/CAD Signal Image

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