USD/CAD – 1H – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline downwards
A bearish trend down to the next support level at 1.43425 will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.44099 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Tweezers Top’ candlestick chart pattern is detected. The chart shows ‘Tweezers Top’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44632 |
| 2nd High | 1.44469 |
| Next High | 1.44099 |
| Current Price | 1.43552 |
| Next Low | 1.43425 |
| 2nd Low | 1.43388 |
| 3rd Low | 1.42974 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Tweezers Top