USD/CAD – 30M – BUYThe pair breaks through the descending trendline upwards
A bullish movement upwards to the next resistance line at 1.39374 will continue.
Caution: A possible reversal of the trend in the direction of the support line at 1.38904 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Target of the current trend is 1.39448 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.39374 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
The chart formed a ‘Three White Soldiers’ candlestick pattern, which means 3 higher candles in a row.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.39448 |
| Next High | 1.39374 |
| Current Price | 1.39370 |
| Next Low | 1.38904 |
| 2nd Low | 1.38762 |
| 3rd Low | 1.38378 |