USDCAD Strong Bearish, Double Top Pattern {Alpha Forex}

USDCAD Price Forecast; Double top pattern strong Bearish Signals

USDCAD
Double Top Pattern: This is a bearish reversal pattern, and the breakdown of the neckline suggests potential downward pressure on the price.

Ascending Channel Breakdown: The breakdown of the ascending channel adds to the bearish sentiment, as it indicates a potential change in the trend.

EMA Crossover: A golden crossover of the 200EMA and 50EMA is generally considered a bullish signal. However, in the context of other bearish signals, it might be a lagging indicator.

Increased Selling Volume: A surge in selling volume often supports the validity of a breakdown, indicating strong participation from sellers.

USDCAD
Technical Targets: The support levels at 1.3320 and 1.3250 can be considered as potential targets for the downward movement.

Trade active:

TRADE ACTIVATED, On bearish candle at breakdown of neckline...

Trade active:

Trade Activated ,, Again Retracement The Neckline, it'll start fall today..

Trade active:

"📉 USDCAD Update: Precision in action! After retracing the 200EMA and forming a bearish candle, our entry activated at 1.3450. The market is currently at 1.3370, securing a fantastic 80+ pips profit and counting. Ride the wave with us! 🚀💹 #USDCAD #TradingWins"

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