USD/CAD – 4H – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline downwards
A bearish descent down to the next support at 1.39849 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 1.41401 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Three Black Crows’ candle pattern is detected. The candles show ‘Three Black Crows’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44148 |
| 2nd High | 1.42959 |
| Next High | 1.41401 |
| Current Price | 1.40303 |
| Next Low | 1.39849 |
| 2nd Low | 1.38876 |
| 3rd Low | 1.37583 |
1.41401 – 1.39859 – 1.39582 – 1.39849 – 1.40007 – 1.38876 —
1.40320 – 1.40620 —
52.312289659555 – 57.658875998731 —
– —
1.41401 – 1762358400
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows – Symmetrical Triangle Chart Pattern – – – –