Bearish Megaphone at USD\CAD

ChartSecret

Master Trader
Jun 26, 2009
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www.chartsecret.com
A Megaphone at 4-hour chart may signal the bearish breakout and a beginning of a downtrend at the USD\CAD. Price has finish 4 touches at the trend lines of the Megaphone and it is expected to create a partial rotation, reverse and break the support trendline. Megaphone is based on the 1.0400 Support level which is a strong psychological level - once the megaphone is broken we could expect this level to break as well.

Source:
http://www.chartsecret.com/content/decemer-8th-bearish-megaphone-usdcad
 

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