USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) moves from the bearish trendline downwards
A continuation of the bearish trend down to the next support level at 1.43646 is expected.
Caution: A possible change in the direction of the resistance line at 1.44045 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish Belt Hold’ candlestick chart pattern is existing. The candles show ‘Bearish Belt Hold’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44632 |
| 2nd High | 1.44094 |
| Next High | 1.44045 |
| Current Price | 1.43902 |
| Next Low | 1.43646 |
| 2nd Low | 1.43388 |
| 3rd Low | 1.42974 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Belt Hold