USD/CAD – 1H – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) moves from the bearish trendline down.
A continuation of the downward movement down to the next support level at 1.37409 will persist.
Caution: A possible counter-trend in the direction of resistance at 1.38575 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Black Crows’ candlestick chart pattern is discovered. The chart forms ‘Three Black Crows’. 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 Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39242 |
| 2nd High | 1.38675 |
| Next High | 1.38575 |
| Current Price | 1.38167 |
| Next Low | 1.37409 |
| 2nd Low | 1.35665 |
| 3rd Low | 1.35561 |
1.38575 – 1.38675 – 1.38637 – 1.37409 – 1.38219 – 1.38164 — 59.109755282687 – 52.054262328197 — 15.284367685203 – 4.8543894055376 – 24.01819165911 – 15.607712476188
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows – – –