USD/CAD – 1H – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline down.
A bearish movement downwards to the next support line at 1.43646 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.44045 is also possible.
Consider stop-loss settings accordingly.
Also there is a ‘Tweezers Top’ candle pattern is existing. The candles show ‘Tweezers Top’. 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 chance of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44632 |
| 2nd High | 1.44094 |
| Next High | 1.44045 |
| Current Price | 1.44148 |
| Next Low | 1.43646 |
| 2nd Low | 1.43388 |
| 3rd Low | 1.42974 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Tweezers Top