USD/CAD – 1H – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline downwards
A bearish trend downwards to the next support line at 1.43439 is considered certain.
Caution: A possible change in the direction of the resistance zone at 1.44352 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Black Crows’ candlestick pattern is found. The candles form ‘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 chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.44669 |
| Next High | 1.44352 |
| Current Price | 1.43528 |
| Next Low | 1.43439 |
| 2nd Low | 1.43043 |
| 3rd Low | 1.42165 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows