USD/CAD – 1H – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) jumps from the descending trendline downwards
A continuation of the downward movement down to the next support at 1.43462 is considered certain.
Caution: A possible change in the direction of the resistance level at 1.44199 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Matching Low’ candle chart pattern is detected. The candles show ‘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 chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44352 |
| 2nd High | 1.44329 |
| Next High | 1.44199 |
| Current Price | 1.43822 |
| Next Low | 1.43462 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.43043 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Matching Low