USD/CAD – 30M – SELL

The 30-minute USD/CAD chart has fired a cluster of bearish signals, including a Trendline Break Up followed by a Trendline Retreat Down, a Double Bottom pattern with a subsequent retreat, a BOP Zero Cross Down, and a T3 Retreat Down. These signals collectively suggest that the recent bounce off the double bottom support is losing momentum and that sellers are reasserting control. The confluence of multiple pattern and indicator signals on the 30-minute timeframe points to a potential downside move, with the nearest support at 1.38613 acting as the immediate target.

Across higher timeframes, the trend alignment is mixed but leans bearish. The 4-hour, 8-hour, 12-hour, and daily timeframes all show solid bearish trends with strong trend scores, while the 15-minute, 30-minute, and 2-hour timeframes are currently bullish but with only moderate strength. This suggests that the short-term bullish correction is likely a pullback within a larger downtrend. The bearish signals on the 30-minute chart align with the dominant higher-timeframe downtrend, increasing the probability of a continuation lower. Key levels to watch are the nearest resistance at 1.39581, which could act as a pivot if price reverses, and the nearest support at 1.38613, which is the first downside target.