USD/CAD – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.42791 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of support at 1.44632 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bearish Belt Hold’ chart pattern is found. The candles show ‘Bearish Belt Hold’. this is a bearish pattern signal. The pair is likely to go down. 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 | 1.44632 |
| Current Price | 1.43065 |
| Next Low | 1.42791 |
| 2nd Low | 1.42165 |
| 3rd Low | 1.42092 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Belt Hold