USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the bearish trendline down.
A continuation of the downtrend down to the next support at 1.38141 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.38406 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Two Crows’ candlestick chart pattern is discovered. The chart shows ‘Two Crows’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39284 |
| 2nd High | 1.38785 |
| Next High | 1.38406 |
| Current Price | 1.38335 |
| Next Low | 1.38141 |
| 2nd Low | 1.37899 |
| 3rd Low | 1.37564 |
1.38406 – 1.38785 – 1.39284 – 1.38141 – 1.38593 – 1.38842 —
1.38310 – 1.38355 —
44.776494396362 – 51.208717805331 —
– —
1.38406 – 1768926600
Trading Signals: FOREX – USD – USD/CAD – CAD – Two Crows – – – – – – – – –