USD/CAD – 1H – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the descending trendline downwards
A continuation of the bearish trend downwards to the next support level at 1.37583 will persist.
Caution: A possible trend reversal in the direction of resistance at 1.38538 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative chart scenario. The pair is likely to go down.
Furthermore a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. which could be a negative chart scenario. The pair is likely to go down.
Furthermore a ‘Three Outside Down’ candle pattern is discovered. The chart forms ‘Three Outside Down’. which is a bearish pattern signal. The currency pair is likely to fall. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38675 |
| 2nd High | 1.38575 |
| Next High | 1.38538 |
| Current Price | 1.38011 |
| Next Low | 1.37583 |
| 2nd Low | 1.37409 |
| 3rd Low | 1.35665 |
1.38538 – 1.38575 – 1.38675 – 1.37583 – 1.37409 – 1.38219 — 38.779506753659 – 36.369017578814 — 3.4312642715992 – 2.7925689267542 – 2.5004079626812 – 3.2183658233176
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Down – – –