USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) jumps from the bullish trendline downwards
A bearish trend down to the next support at 1.43989 is certain.
Caution: A possible change in the direction of resistance at 1.44202 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Line Strike – Bearish’ candle chart pattern is detected. The chart forms ‘Three Line Strike – Bearish’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44352 |
| 2nd High | 1.44329 |
| Next High | 1.44202 |
| Current Price | 1.44092 |
| Next Low | 1.43989 |
| 2nd Low | 1.43496 |
| 3rd Low | 1.43462 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Line Strike – Bearish