USD/CAD – 30M – SELLBesides a ‘Double bottom chart pattern’ chart formation is discovered. The chart picture forms ‘Double bottom chart pattern’. which is a positive pattern signal. The pair is likely to go up.
The combination US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline down.
A bearish descent down to the next support line at 1.36704 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 1.37071 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The pair is likely to go down.
Besides a ‘Three Black Crows’ candlestick pattern is existing. The candles show ‘Three Black Crows’. which is a negative 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 | 1.36970 |
| 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