USD/CAD – 1H – SELL

The combination US Dollar/Canadian Dollar (USD/CAD) moves from the descending trendline downwards

A continuation of the bearish trend downwards to the next support level at 1.3902 is considered certain.

Caution: A possible trend reversal in the direction of the resistance zone at 1.3949 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘StochRSI %K line crosses below %D line’ indicator layout is detected. The indicator shows ‘StochRSI %K line crosses below %D line’. this is usually a bearish chart scenario. The currency pair could go down.

In addition a ‘Bearish Belt Hold’ chart pattern is found. The candles form ‘Bearish Belt Hold’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).

1.3949 – 1.3933 – 1.39665 – 1.3902 – 1.38689 – 1.36696 —
1.39139 – 1.39239 —
41.567669630167 – 50.105672494798 —
– —
1.3949 – 1775235600

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