USD/CAD – 1H – SELL

The combination US Dollar/Canadian Dollar (USD/CAD) jumps from the bearish trendline down.

A continuation of the downward movement down to the next support level at 1.36496 is expected.

Caution: A possible trend reversal in the direction of the resistance line at 1.36900 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. which could be a negative chart scenario. The pair is likely to go down.

Additionally a ‘Three Outside Down’ candlestick pattern is detected. The chart forms ‘Three Outside Down’. this 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).

1.36900 – 1.37284 – 1.37071 – 1.36496 – 1.36633 – 1.36692

Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Down