USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the bullish trendline up.
A continuation of the upward movement up to the next resistance line at 1.41940 is certain.
Caution: A possible reversal of the trend in the direction of the support zone at 1.41309 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three White Soldiers’ candle pattern is found. 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’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.41947 |
| Next High | 1.41940 |
| Current Price | 1.42339 |
| Next Low | 1.41309 |
| 2nd Low | 1.41193 |
| 3rd Low | 1.40930 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers