USD/CAD – 30M – SELL

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

A continuation of the bearish trend downwards to the next support level at 1.36283 is likely expected.

Caution: A possible change in the direction of the resistance level at 1.36856 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.36429136 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support line at 1.36856 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Three Black Crows’ candle pattern is found. The chart forms ‘Three Black Crows’. which is a bearish chart scenario. The 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’ going down is 82%.

1.36504 – 1.36856 – 1.37022 – 1.36283 – 1.36321 – 1.3651 —
1.36367 – 1.36718 —
38.847709797509 – 64.032890942286 —
1.36283 – 1770199200 —
1.36504 – 1770181200

Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows – – – – – – – – –