USD / CAD: 4H chart, Bearish Trend, short-term correction;
Fibonacci retracement till resistance levels at 23.6%;
Double top - a bearish flag on a downward trend at 1.2989 price levels;
Price action: devouring bar, followed from several trend confirming formations;
4 small corrective bars are within the bearish bar, that confirms the possible short;
Moving Averages are in Bearish formation, 5 EMA is under 13 and 25. Test at 25 EMA will give us a signal of possible Short; after correction RSI is below 50 - Negative Signal;
SL: 1.2959
Alternative scenario:
Negative trend will be broken if the price passes above the previous peak.
Stephen D. Angelov - Head of Stocks Trading
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