USD/CAD – 1H – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) jumps from the bearish trendline down.
A continuation of the bearish trend down to the next support level at 1.3971 will persist.
Caution: A possible change in the direction of the resistance line at 1.4062 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Two Crows’ chart pattern is found. The candles show ‘Two Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41401 |
| 2nd High | 1.41396 |
| Next High | 1.4062 |
| Current Price | 1.40449 |
| Next Low | 1.3971 |
| 2nd Low | 1.38876 |
| 3rd Low | 1.3885 |
1.4062 – 1.40213 – 1.40408 – 1.3971 – 1.40138 – 1.39896 —
1.40196 – 1.40593 —
59.841291217186 – 71.456207346403 —
– —
1.40620 – 1763445600
Trading Signals: FOREX – USD – USD/CAD – CAD – Two Crows – – – – –