USD/CAD – 1H – SELL

The currency pair US Dollar/Canadian Dollar (USD/CAD) jumps from the descending trendline downwards

A continuation of the bearish trend down to the next support level at 1.37341 will persist.

Caution: A possible trend reversal in the direction of the resistance zone at 1.38418 should always be considered.
Consider stop-loss settings accordingly.

Also there is a ‘Three Outside Down’ candlestick pattern is existing. The chart shows ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.38418 – 1.38538 – 1.38575 – 1.37341 – 1.38258 – 1.38302 — 55.913565238923 – 54.102209633399 — 51.526327734907 – 34.488954456045 – 53.803532829973 – 47.227895994852

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