USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) jumps from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at 1.40156 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.41778 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three White Soldiers’ candle chart pattern is found. The chart forms ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.41778 |
| Current Price | 1.41657 |
| Next Low | 1.40156 |
| 2nd Low | 1.40100 |
| 3rd Low | 1.40089 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers