USD/CAD – 4H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline up.
A continuation of the bullish trend upwards to the next resistance level at 1.44492 is considered certain.
Caution: A possible counter-trend in the direction of the support zone at 1.43462 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bullish Belt Hold’ candle chart pattern is existing. The chart forms ‘Bullish Belt Hold’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood 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 | 1.44104 |
| Next Low | 1.43462 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.41193 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Belt Hold