USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) jumps from the bullish trendline downwards
A descending movement downwards to the next support line at 1.39847 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.40412 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three Black Crows’ candlestick chart pattern is existing. The candles form ‘Three Black Crows’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.40651 |
| 2nd High | 1.40452 |
| Next High | 1.40412 |
| Current Price | 1.40318 |
| Next Low | 1.39847 |
| 2nd Low | 1.39802 |
| 3rd Low | 1.39508 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows