USD/CAD – 1H – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) jumps from the descending trendline down.
A continuation of the downward movement downwards to the next support line at 1.40089 will continue.
Caution: A possible change in the direction of resistance at 1.40893 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ chart pattern is existing. The chart shows ‘Three Black Crows’. this is a bearish chart scenario. 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’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.41778 |
| Next High | 1.40893 |
| Current Price | 1.40578 |
| Next Low | 1.40089 |
| 2nd Low | 1.39847 |
| 3rd Low | 1.39802 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows