USD/CAD – 1H – BUY

The combination US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline up.

A bullish ascent up to the next resistance line at 1.41305 will persist.

Caution: A possible reversal of the trend in the direction of support at 1.40812 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘MACD crosses above signal’ indicator signal is detected. The indicator is ‘MACD crosses above signal’. which could be a positive signal. The pair is likely to go up.

Next a ‘Bullish Belt Hold’ candlestick chart pattern is found. The chart forms ‘Bullish Belt Hold’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).

1.41305 – 1.41068 – 1.40649 – 1.40812 – 1.40394 – 1.3971 —
1.41030 – 1.41037 —
53.721355874849 – 56.725954538401 —
– —
1.41305 – 1763748000

Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Belt Hold – Rising Wedge Chart Pattern – – – – – – – –