USD/CAD – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend will continue. Current target is 1.44094 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 1.44632 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bullish Belt Hold’ candlestick pattern is detected. The candles form ‘Bullish Belt Hold’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.44669 |
| Next High | 1.44632 |
| Current Price | 1.44165 |
| Next Low | 1.43875 |
| 2nd Low | 1.43646 |
| 3rd Low | 1.43388 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Belt Hold