USD/CAD – 1H – SELL

The combination US Dollar/Canadian Dollar (USD/CAD) jumps from the descending trendline downwards

A continuation of the downward movement down to the next support level at 1.35971 will continue.

Caution: A possible trend reversal in the direction of the resistance zone at 1.37104 could occur.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘MACD crosses below signal’ indicator signal is existing. The indicator shows ‘MACD crosses below signal’. which could be a negative chart signal. The currency pair could go down.

In addition a ‘Bearish Engulfing’ candlestick pattern is found. The candles show ‘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%.

1.37104 – 1.36913 – 1.37142 – 1.35971 – 1.366 – 1.3643 —
1.36872 – 1.36887 —
51.550773752112 – 55.506099474231 —
– —
1.37104 – 1777478400

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