USD/CAD – 4H – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bullish trendline upwards
A continuation of the bullish trend up to the next resistance line at is considered certain.
Caution: A possible change in the direction of the support level at 1.41193 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three Outside Up’ chart pattern is found. The candles show ‘Three Outside Up’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.43257 |
| Next Low | 1.41193 |
| 2nd Low | 1.40100 |
| 3rd Low | 1.39802 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Up