USD/CAD – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Current target is 1.41947 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Outside Up’ candle chart pattern is detected. The candles form ‘Three Outside Up’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.41964 |
| Next Low | 1.41309 |
| 2nd Low | 1.41193 |
| 3rd Low | 1.40930 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Up