USD/CAD – 1H – SELL

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

A descent downwards to the next support level at 1.37874 will continue.

Caution: A possible trend reversal in the direction of resistance at 1.38193 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend will continue. Current target is 1.37571848 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of support at 1.38193 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Two Crows’ chart pattern is existing. The chart forms ‘Two Crows’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).

1.38193 – 1.38192 – 1.37735 – 1.37874 – 1.35665 – 1.35561 — 58.486005799944 – 55.782719423436 — 90.725572929594 – 77.752957723174 – 63.892416257895 – 78.381732439811

Trading Signals: FOREX – USD – USD/CAD – CAD – Two Crows – – –