USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline down.
A bearish trend down to the next support level at 1.42222 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 1.42715 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Black Crows’ candle chart pattern is detected. The chart shows ‘Three Black Crows’. which is a negative pattern 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 Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.42715 |
| Current Price | 1.42342 |
| Next Low | 1.42222 |
| 2nd Low | 1.42190 |
| 3rd Low | 1.42165 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows