USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline up.
An ascent upwards to the next resistance level at 1.36298 is likely expected.
Caution: A possible counter-trend in the direction of the support level at 1.3601 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bullish Belt Hold’ candle pattern is detected. The candles form ‘Bullish Belt Hold’. which is a positive signal. 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 | 1.36887 |
| 2nd High | 1.36761 |
| Next High | 1.36298 |
| Current Price | 1.36119 |
| Next Low | 1.3601 |
| 2nd Low | 1.3575 |
| 3rd Low | 1.35499 |
1.36298 – 1.36191 – 1.35956 – 1.3601 – 1.3575 – 1.35499 —
1.36259 – 1.36201 —
51.300785541433 – 40.741154436445 —
– —
1.36298 – 1777968000
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Belt Hold – – – – – – – – –