USD/CAD – 30M – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline up.
A continuation of the upward movement up to the next resistance at 1.44093 will persist.
Caution: A possible counter-trend in the direction of the support line at 1.43687 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bullish Belt Hold’ candlestick chart pattern is found. The chart forms ‘Bullish Belt Hold’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44492 |
| 2nd High | 1.44326 |
| Next High | 1.44093 |
| Current Price | 1.43773 |
| Next Low | 1.43687 |
| 2nd Low | 1.43633 |
| 3rd Low | 1.43379 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Belt Hold