USD/CAD – 1H – SELL

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

A continuation of the downtrend down to the next support level at 1.36713 is expected.

Caution: A possible reversal of the trend in the direction of resistance at 1.38445 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Three Outside Down’ candlestick chart pattern is existing. The candles form ‘Three Outside Down’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.38445 – 1.38426 – 1.38426 – 1.36713 – 1.37815 – 1.37852 —
1.37143 – 1.37389 —
54.059556617544 – 65.038203550526 —
– —
1.38445 – 1769047200

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