USD/CAD – 30M – SELLAdditionally a ‘Double bottom chart pattern’ chart formation is existing. The chart shows ‘Double bottom chart pattern’. which is a positive signal. The currency pair is likely to go up.
The combination US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline downwards
A bearish trend down to the next support at 1.36704 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.37071 is also possible.
Consider stop-loss settings accordingly.
Additionally a ‘Three Black Crows’ candlestick chart pattern is existing. The chart shows ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37425 |
| 2nd High | 1.37314 |
| Next High | 1.37071 |
| Current Price | 1.37064 |
| Next Low | 1.36704 |
| 2nd Low | 1.36692 |
| 3rd Low | 1.36600 |
1.37071 – 1.37030 – 1.37041 – 1.36704 – 1.36692 – 1.36766
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows