USD/CAD – 4H – SELL

The pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline downwards

A bearish descent down to the next support line at 1.36421 will persist.

Caution: A possible reversal of the trend in the direction of resistance at 1.40142 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. which is often a bearish signal. The pair is likely to go down.

Next a ‘Three Outside Down’ candle chart pattern is existing. The chart forms ‘Three Outside Down’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

1.38054 – 1.37977 – 1.38717 – 1.36421 – 1.37301 – 1.37994 —
1.38202 – 1.38879 —
69.441327063919 – 76.575066621626 —
– —
1.38054 – 1766174400

Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Down – Double bottom chart pattern – – – – – – – –