USD/CAD – 1H – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) moves from the descending trendline down.
A continuation of the downtrend down to the next support line at 1.35971 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 1.37104 could occur.
Consider stop-loss settings accordingly.
In addition a ‘Bearish Belt Hold’ chart pattern is detected. The candles show ‘Bearish Belt Hold’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37378 |
| 2nd High | 1.37142 |
| Next High | 1.37104 |
| Current Price | 1.36716 |
| Next Low | 1.35971 |
| 2nd Low | 1.35762 |
| 3rd Low | 1.35545 |
1.37104 – 1.36913 – 1.37142 – 1.35971 – 1.366 – 1.3643 —
1.37047 – 1.36872 —
49.659968293316 – 51.550773862118 —
– —
1.37104 – 1777478400
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Belt Hold – Rising Wedge Chart Pattern – – – – – – – –