USD/CAD – 1H – SELL

Besides a ‘Double bottom retreat down’ chart layout is detected. The chart picture shows ‘Double bottom retreat down’. this is a bearish signal. The currency pair is likely to go down.

The pair US Dollar/Canadian Dollar (USD/CAD) moves from the bullish trendline downwards

The bearish trend down to the next support level at 1.36872 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance zone at 1.37462 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which could be a negative chart scenario. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Current target is 1.36974188 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support zone at 1.37462 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Three Black Crows’ candle chart pattern is found. The chart forms ‘Three Black Crows’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.

1.37462 – 1.36931 – 1.36068 – 1.36872 – 1.36341 – 1.35563

Trading Signals: FOREX – USD – USD/CAD – CAD – Three Black Crows