USD/CAD – 30M – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline up.
A bullish ascent upwards to the next resistance at 1.43654 will persist.
Caution: A possible trend reversal in the direction of the support level at 1.42974 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Two-Candle Shooting Star’ chart pattern is found. The chart shows ‘Two-Candle Shooting Star’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two-Candle Shooting Star’ going down is 61% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44632 |
| Next High | 1.43654 |
| Current Price | 1.43675 |
| Next Low | 1.42974 |
| 2nd Low | 1.42791 |
| 3rd Low | 1.42222 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Two-Candle Shooting Star