USD/CAD – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 1.4424892 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance line at 1.44492 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bullish Belt Hold’ chart pattern is detected. The chart forms ‘Bullish Belt Hold’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ going 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 | 1.43496 |
| 3rd Low | 1.43462 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Belt Hold