USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline downwards
The bearish trend down to the next support line at 1.43725 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 1.44199 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.4355872 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support line at 1.44199 should be noted.
Consider stop-loss settings accordingly.
There is also a ‘Three Black Crows’ candle pattern is existing. The chart shows ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44352 |
| 2nd High | 1.44329 |
| Next High | 1.44199 |
| Current Price | 1.43751 |
| Next Low | 1.43725 |
| 2nd Low | 1.43632 |
| 3rd Low | 1.43486 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows