USD/CAD – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.43641668 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support line at 1.44419 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three Black Crows’ candle pattern is found. The candles form ‘Three Black Crows’. this 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’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44492 |
| Next High | 1.44419 |
| Current Price | 1.43860 |
| Next Low | 1.43379 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.43043 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows