USD/CAD – 30M – SELL

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

The bearish trend down to the next support level at 1.38669 is expected.

Caution: A possible counter-trend in the direction of the resistance line at 1.39193 could occur.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart scenario. The currency pair could go down.

In addition a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. which could be a negative chart scenario. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 1.38697928 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support zone at 1.39193 could occur.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Collapsing Doji Star’ candle pattern is discovered. The candles show ‘Collapsing Doji Star’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Collapsing Doji Star’ heading down is 63% (Bull Market).

1.39193 – 1.38757 – 1.38765 – 1.38669 – 1.3883 – 1.38645 —
1.38816 – 1.38842 —
37.452169221487 – 50.327766783837 —
– —
1.39193 – 1768001400

Trading Signals: FOREX – USD – USD/CAD – CAD – Collapsing Doji Star – – – – – – – – –