USD/CAD – 30M – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) moves from the descending trendline down.
A continuation of the downward movement downwards to the next support level at 1.37409 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.37766 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. which is often a bearish chart signal. The pair is likely to go down.
Furthermore a ‘Three Outside Down’ candlestick chart pattern is existing. The candles show ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38631 |
| 2nd High | 1.38418 |
| Next High | 1.37766 |
| Current Price | 1.37411 |
| Next Low | 1.37409 |
| 2nd Low | 1.36012 |
| 3rd Low | 1.35665 |
1.37766 – 1.38418 – 1.38631 – 1.37666 – 1.38258 – 1.38302 — 39.221258894535 – 36.78001394009 — 65.573151613191 – 67.984055953912 – 49.220550103913 – 61.326665155761
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Down – – –