USD/CAD – 1H – SELL

Additionally a ‘Symmetrical Triangle Chart Pattern’ chart formation is found. The formation shows ‘Symmetrical Triangle Chart Pattern’. this is a bearish pattern signal. The pair is likely to go down.

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

A continuation of the downward movement downwards to the next support at 1.36521 is certain.

Caution: A possible trend reversal in the direction of the resistance level at 1.37243 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Bearish Engulfing’ candle chart pattern is existing. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.

1.37243 – 1.36996 – 1.36856 – 1.36521 – 1.36283 – 1.34929 —
1.37040 – 1.36859 —
57.381868856512 – 46.95133077389 —
– —
1.37243 – 1770343200

Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Engulfing – Symmetrical Triangle Chart Pattern – – – – – – – –