USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline downwards
A bearish descent down to the next support at 1.40515 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 1.40796 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Black Crows’ candlestick pattern is discovered. The candles show ‘Three Black Crows’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.40828 |
| 2nd High | 1.40819 |
| Next High | 1.40796 |
| Current Price | 1.40691 |
| Next Low | 1.40515 |
| 2nd Low | 1.40089 |
| 3rd Low | 1.39847 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows