USD/CAD – 1H – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) moves from the bullish trendline down.
A bearish trend down to the next support level at 1.43632 will continue.
Caution: A possible counter-trend in the direction of resistance at 1.44329 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Line Strike – Bearish’ candlestick chart pattern is discovered. The candles form ‘Three Line Strike – Bearish’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Line Strike – Bearish’ going down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44352 |
| Next High | 1.44329 |
| Current Price | 1.43873 |
| Next Low | 1.43632 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.43043 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Line Strike – Bearish