USD/CAD – 1H – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) jumps from the bearish trendline down.
A continuation of the downward movement down to the next support level at 1.43827 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.44419 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Matching Low’ candle chart pattern is found. The chart forms ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44492 |
| Next High | 1.44419 |
| Current Price | 1.43961 |
| Next Low | 1.43827 |
| 2nd Low | 1.43379 |
| 3rd Low | 1.43349 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Matching Low