USD/CAD – 1H – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) jumps from the bullish trendline downwards
A descending movement down to the next support level at 1.43379 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.44326 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Tweezers Bottom’ candle chart pattern is discovered. The candles show ‘Tweezers Bottom’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Bottom’ heading up is 52% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44492 |
| Next High | 1.44326 |
| Current Price | 1.44224 |
| Next Low | 1.43379 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.43043 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Tweezers Bottom