USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline upwards
An ascent upwards to the next resistance at 1.43682 is certain.
Caution: A possible counter-trend in the direction of support at 1.42974 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three White Soldiers’ candlestick pattern is detected. The candles form ‘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 | 1.44632 |
| Next High | 1.43682 |
| Current Price | 1.43589 |
| Next Low | 1.42974 |
| 2nd Low | 1.42791 |
| 3rd Low | 1.42222 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers