USD/CAD – 4H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.44669 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance line at 1.44492 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bullish Belt Hold’ chart pattern is discovered. The candles show ‘Bullish Belt Hold’. this is a bullish chart scenario. The 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 | 1.44032 |
| Next Low | 1.43379 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.41193 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Belt Hold