USD/CAD – 30M – SELL

The currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the descending trendline downwards

A continuation of the downward movement downwards to the next support line at 1.35766 is expected.

Caution: A possible counter-trend in the direction of resistance at 1.36502 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative signal. The currency pair is likely to fall.

There is also a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. which could be a negative signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 1.35659 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 1.36502 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Three Outside Down’ candlestick chart pattern is discovered. The candles show ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.36502 – 1.36514 – 1.36749 – 1.35766 – 1.35659 – 1.36121

Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Down