USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline down.
A descent down to the next support level at 1.42791 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.43495 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bullish Belt Hold’ candle chart pattern is discovered. The chart forms ‘Bullish Belt Hold’. this is a bullish pattern signal. 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 | 1.44669 |
| 2nd High | 1.44632 |
| Next High | 1.43495 |
| Current Price | 1.43207 |
| Next Low | 1.42791 |
| 2nd Low | 1.42222 |
| 3rd Low | 1.42190 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Belt Hold