USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the descending trendline down.
A continuation of the downward movement downwards to the next support line at 1.40040 will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 1.40291 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Black Crows’ candle chart pattern is found. The chart shows ‘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 likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41054 |
| 2nd High | 1.41023 |
| Next High | 1.40291 |
| Current Price | 1.40200 |
| Next Low | 1.40040 |
| 2nd Low | 1.39932 |
| 3rd Low | 1.39304 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows