USD/CAD – 30M – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) moves from the bullish trendline downwards
A bearish trend downwards to the next support line at 1.43989 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.44202 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Outside Down’ chart pattern is detected. The chart shows ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44352 |
| 2nd High | 1.44329 |
| Next High | 1.44202 |
| Current Price | 1.44034 |
| Next Low | 1.43989 |
| 2nd Low | 1.43496 |
| 3rd Low | 1.43462 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Down