USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) moves from the bearish trendline down.
A continuation of the downward movement down to the next support line at 1.43043 is likely expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.44669 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three White Soldiers’ candle pattern is found. The candles form ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.44669 |
| Current Price | 1.43791 |
| Next Low | 1.43043 |
| 2nd Low | 1.42984 |
| 3rd Low | 1.42222 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers