USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bullish trendline up.
A continuation of the bullish trend up to the next resistance at 1.36459 is likely expected.
Caution: A possible counter-trend in the direction of the support zone at 1.35762 could occur.
Consider stop-loss settings accordingly.
Next a ‘Bullish Belt Hold’ candle pattern is detected. The candles form ‘Bullish Belt Hold’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.3716 |
| 2nd High | 1.36742 |
| Next High | 1.36459 |
| Current Price | 1.36441 |
| Next Low | 1.35762 |
| 2nd Low | 1.35545 |
| 3rd Low | 1.35418 |
1.36459 – 1.36337 – 1.36044 – 1.35762 – 1.3578 – 1.35545 —
1.36364 – 1.36396 —
62.594903575955 – 64.894554900549 —
– —
1.36459 – 1773363600
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Belt Hold – – – – – – – – –