USD/CAD – 1H – SELLCorrection of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.39736 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of support at 1.41023 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Black Crows’ candlestick chart pattern is found. The candles form ‘Three Black Crows’. which is a negative pattern signal. The currency 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%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.41054 |
| Next High | 1.41023 |
| Current Price | 1.40139 |
| Next Low | 1.39304 |
| 2nd Low | 1.39249 |
| 3rd Low | 1.38418 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows