USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the ascending trendline upwards
A continuation of the bullish trend upwards to the next resistance line at 1.42504 is expected.
Caution: A possible trend reversal in the direction of the support level at 1.42222 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish SBS White Lines’ candlestick pattern is existing. The chart shows ‘Bearish SBS White Lines’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.42715 |
| Next High | 1.42504 |
| Current Price | 1.42811 |
| Next Low | 1.42222 |
| 2nd Low | 1.42190 |
| 3rd Low | 1.42165 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish SBS White Lines