Shooting Star candlestick USD-CAD

FX:USDCAD   U.S. Dollar / Canadian Dollar
86 0 1
A shooting star candlestick pattern formed for the last week, indicating a possible trend reversal next week. Further confirmation will be given if the open on Sunday night is lower than the close on Friday. The MACD also indicates the pair is overbought, as the height of the histograms are fairly large and the faster MA has moved further away from the slower MA.

Also, at the daily timeframe , there is regular bearish divergence, as the MACD is making lower highs while the price action made higher highs. This signals that bulls are exhausted and indicate a trend reversal. Further confirmation will be given when the MACD at the daily timeframe displays a downward cross.

Taken together, these are both bearish signals and indicates a potential downward move over the course of next week. 1.13000 will act as support going forward, followed by 1.11477 the first traditional support for the previous week.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out