USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline up.
A bullish trend up to the next resistance at 1.36191 will continue.
Caution: A possible change in the direction of the support line at 1.35499 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bullish Belt Hold’ chart pattern is detected. The chart shows ‘Bullish Belt Hold’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37142 |
| 2nd High | 1.37104 |
| Next High | 1.36191 |
| Current Price | 1.36242 |
| Next Low | 1.35499 |
| 2nd Low | 1.35418 |
| 3rd Low | 1.35252 |
1.36191 – 1.37104 – 1.36913 – 1.35499 – 1.35971 – 1.366 —
1.36191 – 1.36259 —
59.690100401599 – 63.325807135155 —
– —
1.36191 – 1777899600
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Belt Hold – – – – – – – – –