USD/CAD – 30M – SELL

The currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline downwards

The bearish trend downwards to the next support line at 1.40889 is likely expected.

Caution: A possible trend reversal in the direction of the resistance line at 1.41068 is within the realm of possibility.
Consider stop-loss settings accordingly.

Additionally a ‘Three Outside Down’ candle chart pattern is discovered. The candles show ‘Three Outside Down’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

1.41068 – 1.40649 – 1.4062 – 1.40889 – 1.40812 – 1.40833 —
1.41015 – 1.40970 —
51.619717305214 – 49.336181890484 —
– —
1.41068 – 1763667000

Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Down – – – – – – – – –