USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the bullish trendline down.
A bearish descent downwards to the next support line at 1.43388 is likely expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.44094 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Outside Down’ candle chart pattern is detected. The candles form ‘Three Outside Down’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44632 |
| Next High | 1.44094 |
| Current Price | 1.43715 |
| Next Low | 1.43388 |
| 2nd Low | 1.42974 |
| 3rd Low | 1.42791 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Down