USD/CAD – 30M – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline downwards
A descending movement down to the next support line at 1.38497 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 1.39774 is also possible.
Consider stop-loss settings accordingly.
Next a ‘Three Black Crows’ candlestick chart pattern is found. The chart shows ‘Three Black Crows’. which is a negative signal. 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%.
Next a ‘Double top chart pattern’ chart layout is detected. The formation shows ‘Double top chart pattern’. which is a negative signal. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.40949 |
| 2nd High | 1.39845 |
| Next High | 1.39774 |
| Current Price | 1.38621 |
| Next Low | 1.38497 |
| 2nd Low | 1.38282 |
| 3rd Low |
1.39774 – 1.39085 – 1.39107 – 1.38497 – 1.38282 – 1.38389
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows