USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) jumps from the descending trendline down.
A continuation of the downward movement down to the next support level at 1.40058 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.40651 could happen.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Black Crows’ candle pattern is discovered. The chart forms ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to go down. 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 | 1.41279 |
| 2nd High | 1.40775 |
| Next High | 1.40651 |
| Current Price | 1.40095 |
| Next Low | 1.40058 |
| 2nd Low | 1.39508 |
| 3rd Low | 1.39273 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows