USD/CAD – 30M – SELLCorrection of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.405255 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support zone at 1.41778 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Black Crows’ candle pattern is found. The candles form ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.41778 |
| Current Price | 1.40956 |
| Next Low | 1.39508 |
| 2nd Low | 1.39273 |
| 3rd Low | 1.39249 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows