USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the ascending trendline up.
A continuation of the uptrend upwards to the next resistance at 1.39247 is expected.
Caution: A possible trend reversal in the direction of the support zone at 1.38807 could happen.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Outside Up’ candlestick chart pattern is existing. The candles show ‘Three Outside Up’. 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 Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39295 |
| 2nd High | 1.39285 |
| Next High | 1.39247 |
| Current Price | 1.39325 |
| Next Low | 1.38807 |
| 2nd Low | 1.38147 |
| 3rd Low | 1.38013 |
1.39119 – 1.39113 – 1.39247 – 1.38807 – 1.38875 – 1.38147 —
1.38822 – 1.39186 —
32.105935375522 – 67.46344770855 —
– —
1.39119 – 1780632000
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Up – – – – – – – – –