USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the ascending trendline up.
A continuation of the bullish trend up to the next resistance at 1.39593 is considered certain.
Caution: A possible reversal of the trend in the direction of support at 1.39355 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three White Soldiers’ candle chart pattern is existing. The chart forms ‘Three White Soldiers’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.39670 |
| Next High | 1.39593 |
| Current Price | 1.39880 |
| Next Low | 1.39355 |
| 2nd Low | 1.39249 |
| 3rd Low | 1.39166 |