USD/CAD – 1H – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the bearish trendline down.
A continuation of the bearish trend down to the next support level at 1.39502 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 1.40363 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Three Black Crows’ candlestick chart pattern is found. The chart forms ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to go down. 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 | 1.39891 |
| Next Low | 1.39502 |
| 2nd Low | 1.39304 |
| 3rd Low | 1.39249 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows