USD/CAD – 1H – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline down.
A descending movement down to the next support at 1.43744 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.44492 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Bullish Belt Hold’ candle chart pattern is found. The chart shows ‘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 probability of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.44669 |
| Next High | 1.44492 |
| Current Price | 1.43993 |
| Next Low | 1.43744 |
| 2nd Low | 1.43462 |
| 3rd Low | 1.43349 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Belt Hold