USD/CAD – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Current target is 1.44285264 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.44329 is within the realm of possibility.
Consider stop-loss settings accordingly.
Furthermore a ‘Three White Soldiers’ candlestick pattern is detected. The candles show ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44352 |
| Next High | 1.44329 |
| Current Price | 1.43960 |
| Next Low | 1.43632 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.43043 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers