USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) jumps from the bearish trendline down.
A continuation of the bearish trend downwards to the next support line at 1.34929 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 1.36745 could happen.
Consider stop-loss settings accordingly.
Next a ‘Tweezers Top’ candle pattern is detected. The chart forms ‘Tweezers Top’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37993 |
| 2nd High | 1.37389 |
| Next High | 1.36745 |
| Current Price | 1.36550 |
| Next Low | 1.34929 |
| 2nd Low | 1.34812 |
| 3rd Low |
1.36745 – 1.36575 – 1.35453 – 1.34929 – 1.34812 – 1.35091 —
1.36358 – 1.36662 —
51.173802477639 – 63.514423575673 —
– —
1.36745 – 1770019200
Trading Signals: FOREX – USD – USD/CAD – CAD – Tweezers Top – – – – – – – – –