USD/CAD – 4H – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline downwards
The bearish trend downwards to the next support at 1.43462 will continue.
Caution: A possible change in the direction of the resistance level at 1.44669 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three Black Crows’ chart pattern is found. The candles show ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.44669 |
| Current Price | 1.43804 |
| Next Low | 1.43462 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.41193 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows