# USDCAD Reversal Formation (August 12, 2014) Source: https://www.tradersway.com/resources/market-info/usdcad-reversal-formation-august-12-2014/ Language: en Updated: 2014-08-12 Description: Explore USDCAD Reversal Formation (August 12, 2014). USDCAD has. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. USDCAD has formed a double top chart pattern on its 1-hour time frame, indicating that the uptrend is about to turn. Price has yet to break below the formation’s neckline near the 1.0900 major psychological support before confirming the selloff. ![USDCAD Reversal Formation (August 12, 2014)] Stochastic is almost in the overbought zone already, which means that bears could jump in sooner or later. A break below the 1.0900 mark could lead to a drop of nearly a hundred pips, which is the same height as the chart pattern. Stronger selling pressure could take the pair down to the 1.0700 levels. Shorting below 1.0900 with a tight stop and a target at 1.0800 could yield a good return on risk for a short-term trade. *By Kate Curtis from Trader’s Way.* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/usdcad-reversal-formation-august-12-2014/#primary", "url": "https://www.tradersway.com/resources/market-info/usdcad-reversal-formation-august-12-2014/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/usdcad-reversal-formation-august-12-2014/", "headline": "USDCAD Reversal Formation (August 12, 2014)", "inLanguage": "en", "datePublished": "2014-08-12T15:14:44+00:00", "dateModified": "2014-08-12T15:14:44+00:00", "articleSection": "Market Info", "description": "Explore USDCAD Reversal Formation (August 12, 2014). USDCAD has. 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