FX.co ★ crystal66 | USD/CAD

Hello traders. If we start summarizing the current trading week, it can be said that from the very beginning it was aimed at the decline of the US dollar. As a result, the USD/CAD pair has already shifted its sentiment from an upward trend to a downward one, with the latest local highs and lows signaling this shift, located below the previous values. Moreover, the new low is significantly lower than the previous one, providing sufficient height for a bearish reaction in case a correction occurs at the moment due to technical reasons. It is worth noting that we already have a "zigzag" indicator mark indicating the end of the decline and a reversal of the 4-hour Stochastic upwards, so an increase is likely. For this, we have two targets, from which a return to decline will be possible. The first target is already at the previous pair low of 1.3865, and the second is at the resistance - 1.3915. Even with such an increase, the new pair high will be below the two previous ones. Therefore, once the Stochastic completes its upward movement and we receive another "Zigzag" indicator mark signaling the end of the rise, the pair can be sold in anticipation of a subsequent decline to the level of 1.3745.