USD/CAD – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Current target is 1.405075 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.41305 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Black Crows’ chart pattern is discovered. The candles form ‘Three Black Crows’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41401 |
| 2nd High | 1.41396 |
| Next High | 1.41305 |
| Current Price | 1.40940 |
| Next Low | 1.40812 |
| 2nd Low | 1.40394 |
| 3rd Low | 1.3971 |
1.41305 – 1.41068 – 1.40649 – 1.40812 – 1.40394 – 1.3971 —
1.40976 – 1.40984 —
50.532115778937 – 51.791560187944 —
– —
1.41305 – 1763748000
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows – – – – – – – – –