USD/CAD – 1H – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) moves from the descending trendline down.
A continuation of the downtrend downwards to the next support line at 1.40930 will continue.
Caution: A possible change in the direction of the resistance line at 1.41947 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Black Crows’ candlestick chart pattern is discovered. The chart forms ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to fall. 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 | |
| 2nd High | |
| Next High | 1.41947 |
| Current Price | 1.41617 |
| Next Low | 1.40930 |
| 2nd Low | 1.40100 |
| 3rd Low | 1.40089 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows