USD/CAD – 4H – SELL

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

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

Caution: A possible counter-trend in the direction of the resistance zone at 1.37525 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 1.36282 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support zone at 1.37525 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Matching Low’ candle chart pattern is found. The candles show ‘Matching Low’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).

1.37525 – 1.37122 – 1.37246 – 1.36247 – 1.36482 – 1.35039 —
1.36788 – 1.37160 —
47.652182186939 – 57.807410832967 —
– —
1.37525 – 1772553600

Trading Signals: FOREX – USD – USD/CAD – CAD – Matching Low – – – – – – – – –