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From what is seen on the 4-hour chart of the USD/CAD commodity currency pair, there are 3 interesting facts that we can take, namely, first, the price movement of The Lonnie is below the SMA 50 which has a decreasing slope, second, the appearance of a deviation between the price movement of USD/CAD which forms a Higher-High while on the contrary the Awesome Oscillator indicator forms a Higher-Low, and the third is the appearance of a Bearish 123 pattern followed by several Bearish Ross Hook (RH) so that based on these three facts we can conclude that USD/CAD is under the control of the Sellers so that in the near future USD/CAD has the potential to continue its weakening to the level of 1.3419 if this level is successfully broken then 1.3365 will be the next target to be targeted with the note that during its journey to the targets of these levels there is no significant strengthening correction, especially not breaking through the level of 1.3539 because if this level is successfully broken above then all the weakening scenarios that have been described previously will be invalid and canceled by itself.
(Disclaimer)
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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