USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline downwards
A bearish trend down to the next support level at 1.43379 will persist.
Caution: A possible change in the direction of resistance at 1.44326 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Outside Up’ candlestick pattern is discovered. The chart shows ‘Three Outside Up’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44492 |
| Next High | 1.44326 |
| Current Price | 1.43971 |
| Next Low | 1.43379 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.43043 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Up