USD/CAD – 1H – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline down.
A bearish movement down to the next support at 1.42974 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 1.44632 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Black Crows’ candle chart pattern is detected. The candles form ‘Three Black Crows’. 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 Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.44669 |
| Next High | 1.44632 |
| Current Price | 1.43488 |
| Next Low | 1.42974 |
| 2nd Low | 1.42791 |
| 3rd Low | 1.42165 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows