USD/CAD – 4H – SELL

The combination US Dollar/Canadian Dollar (USD/CAD) goes from the descending trendline down.

A continuation of the downward movement down to the next support at 1.35039 is certain.

Caution: A possible counter-trend in the direction of resistance at 1.3716 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘StochRSI %K line crosses below %D line’ indicator layout is discovered. The indicator shows ‘StochRSI %K line crosses below %D line’. which could be a negative signal. The pair is likely to go down.

Moreover a ‘Bearish Engulfing’ candlestick pattern is detected. The chart forms ‘Bearish Engulfing’. 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 chance of ‘Bearish Engulfing’ heading down is 79%.

1.3716 – 1.37525 – 1.37122 – 1.36247 – 1.36482 – 1.35039 —
1.36768 – 1.36059 —
46.85370973299 – 33.156451569953 —
– —
1.3716 – 1772726400

Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Engulfing – – – – – – – – –