USD/CAD – 30M – SELL

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

A bearish trend down to the next support at 1.36744 is considered certain.

Caution: A possible trend reversal in the direction of the resistance zone at 1.37063 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 1.36617 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support level at 1.37063 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Southern Doji’ candle pattern is detected. The chart forms ‘Southern Doji’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).

1.37063 – 1.37246 – 1.37172 – 1.36744 – 1.36739 – 1.36958 —
1.36855 – 1.36794 —
42.110440322596 – 40.145939700257 —
– —
1.37063 – 1772026200

Trading Signals: FOREX – USD – USD/CAD – CAD – Southern Doji – – – – – – – – –