USD/CAD – 1H – SELL

The currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the descending trendline down.

A continuation of the downtrend down to the next support level at 1.39385 is likely expected.

Caution: A possible change in the direction of resistance at 1.39707 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is discovered. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart signal. The currency pair could go down.

Moreover a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which is often a bearish signal. The pair is likely to go down.

Moreover a ‘Three Outside Down’ chart pattern is detected. The candles show ‘Three Outside Down’. this is a bearish chart scenario. The currency pair is likely to fall. 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).

1.39707 – 1.39623 – 1.39673 – 1.39385 – 1.39406 – 1.39415 —
48.130816288358 – 46.407455215244 —
65.344541122856 – 65.189638572609 – 63.501501096547 – 64.80350815105

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