USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) jumps from the bullish trendline down.
A bearish movement downwards to the next support level at 1.43744 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 1.44492 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish Belt Hold’ candlestick pattern is found. The candles show ‘Bearish Belt Hold’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.44669 |
| Next High | 1.44492 |
| Current Price | 1.43865 |
| Next Low | 1.43744 |
| 2nd Low | 1.43496 |
| 3rd Low | 1.43462 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Belt Hold