USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) moves from the bullish trendline down.
The bearish trend downwards to the next support level at 1.43388 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.44094 could be enabled.
Consider stop-loss settings accordingly.
There is also a ‘Tweezers Top’ candle pattern is existing. The chart forms ‘Tweezers Top’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44632 |
| Next High | 1.44094 |
| Current Price | 1.43772 |
| Next Low | 1.43388 |
| 2nd Low | 1.42974 |
| 3rd Low | 1.42791 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Tweezers Top