USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline up.
A continuation of the upward movement up to the next resistance at 1.44352 will continue.
Caution: A possible counter-trend in the direction of the support level at 1.43439 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Outside Up’ candle chart pattern is detected. The chart shows ‘Three Outside Up’. which is a bullish 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 | 1.44669 |
| Next High | 1.44352 |
| Current Price | 1.43873 |
| Next Low | 1.43439 |
| 2nd Low | 1.43043 |
| 3rd Low | 1.42984 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Up