USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support level at 1.43349 is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 1.44326 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Current target is 1.43443 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support zone at 1.44326 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three Black Crows’ candlestick pattern is found. The chart shows ‘Three Black Crows’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44492 |
| Next High | 1.44326 |
| Current Price | 1.43407 |
| Next Low | 1.43349 |
| 2nd Low | 1.43043 |
| 3rd Low | 1.42984 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows