USD/CAD – 30M – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the bearish trendline down.
A continuation of the bearish trend downwards to the next support line at 1.40101 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.40534 is also possible.
Consider stop-loss settings accordingly.
Moreover a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The currency pair could go down.
Moreover a ‘Bearish Belt Hold’ candle pattern is found. The chart forms ‘Bearish Belt Hold’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41598 |
| 2nd High | 1.4077 |
| Next High | 1.40534 |
| Current Price | 1.40411 |
| Next Low | 1.40101 |
| 2nd Low | 1.39951 |
| 3rd Low | 1.39798 |
1.40534 – 1.4077 – 1.40743 – 1.40101 – 1.40244 – 1.40392 —
1.40457 – 1.40512 —
55.688579223805 – 55.64595953486 —
– —
1.40534 – 1784179800
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Belt Hold – – – – – – – – –