USD/CAD – 1H – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the descending trendline down.
A continuation of the downward movement down to the next support at 1.40930 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 1.41747 is also possible.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend will continue. Current target is 1.41355712 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 1.41747 is also possible.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candle chart pattern is existing. The chart forms ‘Three Black Crows’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.41778 |
| Next High | 1.41747 |
| Current Price | 1.41638 |
| Next Low | 1.40930 |
| 2nd Low | 1.40100 |
| 3rd Low | 1.40089 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows