USD/CAD – 30M – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the descending trendline downwards
A continuation of the downtrend down to the next support at 1.37409 will continue.
Caution: A possible change in the direction of the resistance level at 1.38575 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three Outside Down’ candle chart pattern is detected. The candles show ‘Three Outside Down’. this is a bearish 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 ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39242 |
| 2nd High | 1.38675 |
| Next High | 1.38575 |
| Current Price | 1.37918 |
| Next Low | 1.37409 |
| 2nd Low | 1.36012 |
| 3rd Low | 1.35665 |
1.37877 – 1.38575 – 1.38568 – 1.37409 – 1.3769 – 1.37825 — 58.919014885503 – 57.306061155017 — 89.221823442673 – 73.199272103322 – 90.606603883134 – 87.349984791202
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Down – – –