USD/CAD – 4H – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support line at 1.40271 is likely expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.42959 could occur.
Consider stop-loss settings accordingly.
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 1.41435896 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 1.42959 could occur.
Consider stop-loss settings accordingly.
And also a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish chart signal. The pair is likely to go down.
And also a ‘Support Level’ indicator layout is discovered. The indicator is ‘Support Level’. which is often a bearish chart scenario. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.45207 |
| 2nd High | 1.44148 |
| Next High | 1.42959 |
| Current Price | 1.42213 |
| Next Low | 1.40271 |
| 2nd Low | |
| 3rd Low |
1.42959 – 1.44148 – 1.44012 – 1.40271 – 1.42346 – 1.42635