USD/CAD – 1H – SELLCorrection of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.39249 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the support level at 1.40363 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Black Crows’ candle pattern is detected. The candles show ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41054 |
| 2nd High | 1.41023 |
| Next High | 1.40363 |
| Current Price | 1.39562 |
| Next Low | 1.39304 |
| 2nd Low | 1.39249 |
| 3rd Low | 1.38418 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows