USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline downwards
A descent down to the next support line at 1.43379 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 1.44632 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Matching Low’ candle pattern is found. The candles show ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.44669 |
| Next High | 1.44632 |
| Current Price | 1.43631 |
| Next Low | 1.43379 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.43043 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Matching Low