USD/CAD – 30M – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline downwards
A descent downwards to the next support level at 1.39798 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 1.40024 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Tweezers Top’ candle chart pattern is detected. The chart shows ‘Tweezers Top’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.40181 |
| 2nd High | 1.40155 |
| Next High | 1.40024 |
| Current Price | 1.40022 |
| Next Low | 1.39798 |
| 2nd Low | 1.39502 |
| 3rd Low | 1.39312 |
1.40024 – 1.40155 – 1.40181 – 1.39798 – 1.39502 – 1.39546 —
1.39995 – 1.40041 —
56.045943346226 – 60.96405055761 —
– —
1.40024 – 1781652600
Trading Signals: FOREX – USD – USD/CAD – CAD – Tweezers Top – – – – – – – – –