USD/CAD – 30M – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the descending trendline down.
A continuation of the bearish trend down to the next support line at 1.3601 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 1.36298 could occur.
Consider stop-loss settings accordingly.
Moreover a ‘Bearish Belt Hold’ candlestick chart pattern is discovered. The chart forms ‘Bearish Belt Hold’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36887 |
| 2nd High | 1.36761 |
| Next High | 1.36298 |
| Current Price | 1.36104 |
| Next Low | 1.3601 |
| 2nd Low | 1.3575 |
| 3rd Low | 1.35499 |
1.36298 – 1.36191 – 1.35956 – 1.3601 – 1.3575 – 1.35499 —
1.36169 – 1.36183 —
47.045581620832 – 49.267727392882 —
– —
1.36298 – 1777968000
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Belt Hold – – – – – – – – –