USD/CAD – 30M – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the bullish trendline downwards
The bearish trend downwards to the next support at 1.43486 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 1.43965 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three Outside Up’ candlestick pattern is existing. The chart shows ‘Three Outside Up’. which is a positive pattern signal. The currency pair is likely to rise. 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 | 1.44669 |
| 2nd High | 1.44352 |
| Next High | 1.43965 |
| Current Price | 1.43885 |
| Next Low | 1.43486 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.43043 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Up