USD/CAD – 4H – SELL

The pair US Dollar/Canadian Dollar (USD/CAD) goes from the descending trendline downwards

A continuation of the downtrend downwards to the next support line at 1.36482 is expected.

Caution: A possible counter-trend in the direction of the resistance zone at 1.37246 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. this is usually a bearish chart signal. The currency pair could go down.

In addition a ‘Bearish Engulfing’ candlestick pattern is discovered. The chart forms ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.

1.37246 – 1.37145 – 1.37243 – 1.36482 – 1.35039 – 1.36283 —
1.36969 – 1.36911 —
52.992802416621 – 52.031938107298 —
– —
1.37246 – 1771948800

Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Engulfing – Double bottom retreat down – – – – – – – –