USD/CAD – 1H – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the descending trendline down.
A continuation of the downward movement downwards to the next support level at 1.37583 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 1.38538 could occur.
Consider stop-loss settings accordingly.
Also there is a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart signal. The currency pair could go down.
Also there is a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. this is usually a bearish signal. The currency pair is likely to fall.
Also there is a ‘Three Outside Down’ candle pattern is detected. The candles show ‘Three Outside Down’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38675 |
| 2nd High | 1.38575 |
| Next High | 1.38538 |
| Current Price | 1.38060 |
| Next Low | 1.37583 |
| 2nd Low | 1.37409 |
| 3rd Low | 1.35665 |
1.38538 – 1.38575 – 1.38675 – 1.37583 – 1.37409 – 1.38219 — 46.362049809145 – 42.968143254554 — 84.940847480959 – 68.906678526425 – 88.145818220394 – 81.972830414064
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Down – – –