USD/CAD – 1H – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline down.
A descent down to the next support at 1.36369 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 1.36925 is also possible.
Consider stop-loss settings accordingly.
Moreover a ‘Bearish Belt Hold’ candlestick chart pattern is existing. The candles show ‘Bearish Belt Hold’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37389 |
| 2nd High | 1.37243 |
| Next High | 1.36925 |
| Current Price | 1.36892 |
| Next Low | 1.36369 |
| 2nd Low | 1.36319 |
| 3rd Low | 1.36031 |
1.36925 – 1.36372 – 1.36355 – 1.36369 – 1.36319 – 1.36031 —
1.36778 – 1.36976 —
63.957420479141 – 69.063280500573 —
– —
1.36925 – 1771347600
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish Belt Hold – Double top retreat up – – – – – – – –