USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline down.
A descent down to the next support level at 1.43725 will persist.
Caution: A possible change in the direction of resistance at 1.44329 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Line Strike – Bearish’ candlestick chart pattern is found. The chart shows ‘Three Line Strike – Bearish’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44352 |
| Next High | 1.44329 |
| Current Price | 1.44000 |
| Next Low | 1.43725 |
| 2nd Low | 1.43632 |
| 3rd Low | 1.43486 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Line Strike – Bearish