USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) jumps from the bullish trendline down.
A descent down to the next support level at 1.41309 is certain.
Caution: A possible counter-trend in the direction of resistance at could happen.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Matching Low’ candle pattern is existing. The candles form ‘Matching Low’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.42118 |
| Next Low | 1.41309 |
| 2nd Low | 1.41193 |
| 3rd Low | 1.40930 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Matching Low