USD/CAD – 4H – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) jumps from the bullish trendline downwards
The bearish trend downwards to the next support at 1.42791 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 1.44632 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Outside Up’ candle pattern is found. The candles form ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.44669 |
| Next High | 1.44632 |
| Current Price | 1.44118 |
| Next Low | 1.42791 |
| 2nd Low | 1.41193 |
| 3rd Low | 1.40100 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Up