USD/CAD – 1H – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the bullish trendline down.
A descent downwards to the next support line at 1.43388 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.44094 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Two-Candle Shooting Star’ candle chart pattern is discovered. The candles show ‘Two-Candle Shooting Star’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two-Candle Shooting Star’ heading down is 61% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44632 |
| Next High | 1.44094 |
| Current Price | 1.43772 |
| Next Low | 1.43388 |
| 2nd Low | 1.42974 |
| 3rd Low | 1.42791 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Two-Candle Shooting Star