EUR/CAD – 1H – BUYThen a ‘Tweezers Top’ chart pattern is detected. The candles form ‘Tweezers Top’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
Then a ‘Double top chart pattern’ chart layout is existing. The chart shows ‘Double top chart pattern’. this is a bearish signal. The currency pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.56715 |
| 2nd High | 1.56375 |
| Next High | 1.55686 |
| Current Price | 1.55225 |
| Next Low | 1.54013 |
| 2nd Low | 1.51526 |
| 3rd Low | 1.50026 |
1.55686 – 1.56375 – 1.56715 – 1.55728 – 1.55638 – 1.55826
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top