USD/CAD – 30M – SELL

The pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline down.

A bearish trend downwards to the next support level at 1.39849 is certain.

Caution: A possible trend reversal in the direction of the resistance level at 1.4062 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘%K crosses below %D’ indicator signal is found. The indicator is ‘%K crosses below %D’. which could be a negative signal. The pair is likely to go down.

In addition a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. which could be a negative chart signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is certain. Current target is 1.40138 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support level at 1.4062 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Two Crows’ candle chart pattern is existing. The candles form ‘Two Crows’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).

1.4062 – 1.40576 – 1.40387 – 1.40235 – 1.4014 – 1.40138 —
1.40362 – 1.40142 —
32.067445046808 – 30.770074342223 —
– —
1.40620 – 1763445600

Trading Signals: FOREX – USD – USD/CAD – CAD – Two Crows – Double top retreat up – – – –