USD/CAD – 4H – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline down.
The bearish trend downwards to the next support at 1.43349 is expected.
Caution: A possible counter-trend in the direction of resistance at 1.44669 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Black Crows’ candle chart pattern is found. The candles form ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. 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 | |
| 2nd High | |
| Next High | 1.44669 |
| Current Price | 1.43577 |
| Next Low | 1.43349 |
| 2nd Low | 1.41193 |
| 3rd Low | 1.40100 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows