USD/CAD – 1H – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the ascending trendline upwards
A continuation of the uptrend up to the next resistance line at 1.44669 will persist.
Caution: A possible change in the direction of the support line at 1.43043 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Outside Up’ candle pattern is found. The chart shows ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.44669 |
| Current Price | 1.43917 |
| Next Low | 1.43043 |
| 2nd Low | 1.42165 |
| 3rd Low | 1.42092 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Up