USD/CAD – 30M – SELL

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

A descending movement downwards to the next support at 1.37043 is likely expected.

Caution: A possible trend reversal in the direction of the resistance level at 1.37406 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which is often a bearish chart scenario. The currency pair is likely to fall.

Also there is a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles show ‘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’ going down is 79%.

1.37406 – 1.37445 – 1.37479 – 1.37246 – 1.37043 – 1.37054 —
1.37281 – 1.37299 —
47.374671155861 – 53.337646030726 —
– —
1.37406 – 1774000800

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