USD/CAD – 1H – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline downwards
A bearish movement downwards to the next support line at 1.43379 is considered certain.
Caution: A possible change in the direction of the resistance line at 1.44093 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Shooting Star’ chart pattern is found. The candles form ‘Shooting Star’. 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 ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44492 |
| 2nd High | 1.44326 |
| Next High | 1.44093 |
| Current Price | 1.44225 |
| Next Low | 1.43379 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.43043 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Shooting Star