USD/CAD – 1H – SELL

Additionally a ‘Rising Wedge Chart Pattern’ chart layout is found. The formation shows ‘Rising Wedge Chart Pattern’. which is a negative chart scenario. The pair is likely to go down.

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

The bearish trend downwards to the next support at 1.35777 is expected.

Caution: A possible counter-trend in the direction of the resistance zone at 1.36298 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart signal. The currency pair could go down.

Additionally a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. which is often a bearish signal. The pair is likely to go down.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.3584247 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support line at 1.36298 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Southern Doji’ candlestick chart pattern is existing. The candles form ‘Southern Doji’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).

1.36298 – 1.36191 – 1.37104 – 1.35777 – 1.36039 – 1.35499 —
1.36378 – 1.36432 —
64.594527252828 – 60.195041089195 —
– —
1.36298 – 1777968000

Trading Signals: FOREX – USD – USD/CAD – CAD – Southern Doji – Rising Wedge Chart Pattern – – – – – – – –