USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) jumps from the bullish trendline down.
A descent down to the next support at 1.43486 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.44352 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Outside Up’ candle chart pattern is existing. The chart forms ‘Three Outside Up’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.44669 |
| Next High | 1.44352 |
| Current Price | 1.44130 |
| Next Low | 1.43486 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.43043 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Up