USD/CAD – 4H – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline downwards
A bearish movement down to the next support at 1.43379 is expected.
Caution: A possible trend reversal in the direction of resistance at 1.44492 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Advance Block’ candlestick pattern is found. The candles form ‘Advance Block’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Advance Block’ going down is 64% (Bull Market) & 61% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.44669 |
| Next High | 1.44492 |
| Current Price | 1.44225 |
| Next Low | 1.43379 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.41193 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Advance Block