USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the descending trendline downwards
A continuation of the bearish trend down to the next support at will continue.
Caution: A possible counter-trend in the direction of resistance at 1.39085 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative chart signal. The pair is likely to go down.
Next a ‘Two Crows’ chart pattern is discovered. The chart shows ‘Two Crows’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39330 |
| 2nd High | 1.39107 |
| Next High | 1.39085 |
| Current Price | 1.38784 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.39085 – 1.39107 – 1.39330 – 1.38497 – 1.38282 – 1.38389