USD/CAD – 30M – SELL

Additionally a ‘Double bottom chart pattern’ chart pattern is detected. The formation shows ‘Double bottom chart pattern’. which is a bullish signal. The pair is likely to go up.

The pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline down.

A descent downwards to the next support line at 1.36704 is expected.

Caution: A possible trend reversal in the direction of the resistance line at 1.37071 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which is often a bearish signal. The currency pair could go down.

Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is expected. Current target is 1.36959844 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support zone at 1.37071 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Three Black Crows’ candle chart pattern is found. The chart shows ‘Three Black Crows’. this is a bearish 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’ going down is 82%.

1.37071 – 1.37030 – 1.37041 – 1.36704 – 1.36692 – 1.36766

Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows