USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline upwards
An ascent upwards to the next resistance level at 1.37223 is expected.
Caution: A possible reversal of the trend in the direction of the support zone at 1.36875 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish SBS White Lines’ candlestick pattern is detected. The candles form ‘Bearish SBS White Lines’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37525 |
| 2nd High | 1.37413 |
| Next High | 1.37223 |
| Current Price | 1.37230 |
| Next Low | 1.36875 |
| 2nd Low | 1.3687 |
| 3rd Low | 1.368 |
1.37223 – 1.37413 – 1.36048 – 1.36875 – 1.3687 – 1.368 —
1.37070 – 1.37314 —
49.665332729607 – 55.28262093868 —
– —
1.37223 – 1773770400
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish SBS White Lines – – – – – – – – –