USD/CAD – 4H – SELL

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

A continuation of the bearish trend downwards to the next support at 1.38689 is considered certain.

Caution: A possible change in the direction of the resistance zone at 1.3949 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Bearish Engulfing’ chart pattern is existing. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.

1.3949 – 1.39665 – 1.37479 – 1.38689 – 1.36696 – 1.35252 —
1.39474 – 1.39263 —
61.833444098829 – 48.962325731749 —
– —
1.3949 – 1775232000

Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Engulfing – – – – – – – – –