USD/CAD – 1H – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the descending trendline downwards
A continuation of the downward movement down to the next support line at 1.43379 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 1.44326 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish Belt Hold’ candle pattern is existing. The candles show ‘Bearish Belt Hold’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44492 |
| Next High | 1.44326 |
| Current Price | 1.43926 |
| Next Low | 1.43379 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.43043 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Belt Hold