USD/CAD – 30M – SELL

The currency pair US Dollar/Canadian Dollar (USD/CAD) jumps from the descending trendline down.

A continuation of the bearish trend down to the next support at 1.40281 will persist.

Caution: A possible counter-trend in the direction of resistance at 1.40495 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ candlestick chart pattern is detected. The chart forms ‘Three Outside 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 Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.40495 – 1.41006 – 1.41047 – 1.40281 – 1.40283 – 1.40344 —
1.40392 – 1.40321 —
35.588276306758 – 41.974974300031 —
1.40281 – 1764262800 —
1.40495 – 1764244800

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