USD/CAD – 4H – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline downwards
The bearish trend downwards to the next support level at 1.43349 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 1.44669 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three Black Crows’ candlestick pattern is existing. The chart forms ‘Three Black Crows’. which is a bearish pattern signal. The currency 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 | 1.43577 |
| Next Low | 1.43349 |
| 2nd Low | 1.41193 |
| 3rd Low | 1.40100 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows