USD/CAD – 30M – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline upwards
A bullish trend upwards to the next resistance at 1.44202 is expected.
Caution: A possible change in the direction of the support zone at 1.43989 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.44143462 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the resistance level at 1.44202 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three White Soldiers’ candle chart pattern is detected. The candles form ‘Three White Soldiers’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44352 |
| 2nd High | 1.44329 |
| Next High | 1.44202 |
| Current Price | 1.44016 |
| Next Low | 1.43989 |
| 2nd Low | 1.43496 |
| 3rd Low | 1.43462 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers