USD/CAD – 4H – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance line at is certain.
Caution: A possible reversal of the trend in the direction of the support level at 1.40100 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.41947 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance level at should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three White Soldiers’ chart pattern is detected. The chart shows ‘Three White Soldiers’. 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 success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.42217 |
| Next Low | 1.40100 |
| 2nd Low | 1.39802 |
| 3rd Low | 1.39273 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers