USD/CAD Bearish Scenario?

The Canadian Dollar has formed a very interesting chart pattern today. On the daily chart a bearish pin bar formation has formed. This bar signifies a stop run and a possible reversal may develop tonight or tomorrow during the European or US session. Look for a break of the low of the bar @ 0.9900 for a confirmation of short momentum to develop. The formation also has bearish divergence developed which indicates lack of buyers at the current price levels. This chart pattern has formed at a very significant round number 1.0000 which is a very very significant price level in terms of prior support and resistance. As you can see on the chart That price level has been used more then five times as a support and resistance during the year. Enjoy!