USD/CAD – 4H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the bullish trendline upwards
A continuation of the upward movement up to the next resistance level at will persist.
Caution: A possible change in the direction of support at 1.41193 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three Outside Up’ candlestick pattern is discovered. The chart shows ‘Three Outside Up’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.44336 |
| Next Low | 1.41193 |
| 2nd Low | 1.40100 |
| 3rd Low | 1.39802 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Up