USD/CAD – 30M – BUY

Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish signal. The currency pair is likely to fall.

Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.36345 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the support level at 1.37003 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Three Outside Down’ candle chart pattern is discovered. The candles show ‘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 success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.37003 – 1.37028 – 1.37094 – 1.36345 – 1.36491 – 1.3695 —
1.36494 – 1.36603 —
48.18120560861 – 59.590555884692 —
– —
1.37003 – 1776699000

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