USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline down.
The bearish trend downwards to the next support at 1.38302 will continue.
Caution: A possible counter-trend in the direction of resistance at 1.38675 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Inside Down’ candle chart pattern is found. The candles show ‘Three Inside Down’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39607 |
| 2nd High | 1.39242 |
| Next High | 1.38675 |
| Current Price | 1.38588 |
| Next Low | 1.38302 |
| 2nd Low | 1.37879 |
| 3rd Low | 1.37583 |
1.38619 – 1.38595 – 1.3811 – 1.38302 – 1.37879 – 1.37583 — 56.467694042658 – 52.701842674723 — 70.551607206548 – 46.025188245485 – 74.396939050534 – 64.379735926418
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Inside Down – – –