USD/CAD – 30M – SELL

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

A continuation of the bearish trend downwards to the next support level at 1.39251 is considered certain.

Caution: A possible change in the direction of resistance at 1.39604 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ chart pattern is detected. The chart shows ‘Three Outside Down’. 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 likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.39604 – 1.3977 – 1.39691 – 1.39251 – 1.39571 – 1.39403 —
1.39549 – 1.39537 —
47.917550129455 – 48.742367801298 —
– —
1.39604 – 1764898200

Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Down – Double bottom chart pattern – – – – – – – –