USD/CAD – 4H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline downwards
A bearish trend downwards to the next support line at 1.43462 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.44669 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Latter Bottom’ chart pattern is existing. The chart forms ‘Latter Bottom’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Latter Bottom’ going up is 56% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.44669 |
| Current Price | 1.44348 |
| Next Low | 1.43462 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.41193 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Latter Bottom