USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance at 1.44669 is considered certain.
Caution: A possible change in the direction of support at 1.43439 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Outside Up’ candle chart pattern is found. 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 likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.44669 |
| Current Price | 1.43877 |
| Next Low | 1.43439 |
| 2nd Low | 1.43043 |
| 3rd Low | 1.42984 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Up