USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the descending trendline downwards
A continuation of the downward movement downwards to the next support at 1.39621 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 1.40207 could be enabled.
Consider stop-loss settings accordingly.
Also there is a ‘Three Line Strike – Bearish’ candle pattern is discovered. The chart forms ‘Three Line Strike – Bearish’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Line Strike – Bearish’ going down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41023 |
| 2nd High | 1.40363 |
| Next High | 1.40207 |
| Current Price | 1.39279 |
| Next Low | 1.39621 |
| 2nd Low | 1.39572 |
| 3rd Low | 1.39308 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Line Strike – Bearish