USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline down.
A bearish trend down to the next support line at 1.40694 will continue.
Caution: A possible change in the direction of the resistance line at 1.41023 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Black Crows’ candle 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 likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.41054 |
| Next High | 1.41023 |
| Current Price | 1.40669 |
| Next Low | 1.40694 |
| 2nd Low | 1.40328 |
| 3rd Low | 1.39932 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows