USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) jumps from the bullish trendline down.
A bearish trend down to the next support level at 1.39304 will persist.
Caution: A possible counter-trend in the direction of the resistance line at should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ chart pattern is discovered. The chart forms ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.39944 |
| Next Low | 1.39304 |
| 2nd Low | 1.39249 |
| 3rd Low | 1.39166 |