USD/CAD – 30M – SELL

The combination US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline down.

A bearish descent downwards to the next support level at 1.36755 is expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.37025 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

And also a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 1.369105 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.37025 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

And also a ‘Bearish Belt Hold’ candlestick pattern is existing. The chart forms ‘Bearish Belt Hold’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).

1.37025 – 1.37024 – 1.37145 – 1.36807 – 1.36773 – 1.36755 —
1.36951 – 1.36964 —
48.181355031963 – 49.912644192948 —
– —
1.37025 – 1771581600

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