USD/CAD – 1H – SELLCorrection of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 1.42989 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support zone at 1.44669 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Black Crows’ candle pattern is found. The candles show ‘Three Black Crows’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.44669 |
| Current Price | 1.43748 |
| Next Low | 1.43043 |
| 2nd Low | 1.42165 |
| 3rd Low | 1.42092 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows