USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline downwards
A descent down to the next support at 1.43827 will continue.
Caution: A possible change in the direction of the resistance line at 1.44632 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bullish Belt Hold’ candlestick chart pattern is existing. The candles form ‘Bullish Belt Hold’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.44669 |
| Next High | 1.44632 |
| Current Price | 1.43971 |
| Next Low | 1.43827 |
| 2nd Low | 1.43687 |
| 3rd Low | 1.43633 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Belt Hold