FX.co ★ crystal66 | USD/CAD

Regarding the currency pair USDCAD, a downtrend is still in place. The technical analysis indicates that on the four-hour timeframe, the price is trading below the Kijun-sen and Tenkan-sen signal lines, below the cloud, the Chikou span line is below the price chart, and a "dead cross" is active. The Bollinger Bands are pointing downwards, the volumes of the MACD oscillator are decreasing, the Relative Strength Index indicator is below 50, and the Trend Filter oscillator has turned red, signaling increasing bearish strength. Currently, selling is preferred. The nearest potential target of the downward movement is the support level at 1.3580. If the bears manage to break this level, a decline towards the support at 1.3519 is likely. Selling will be relevant as long as the price stays below the critical Kijun-sen line. A pullback to this level will reduce the relevance of selling. As an alternative, I am considering a consolidation above the cloud, with the condition of the formation of a "golden cross" by the signal lines.