USD/CAD – 30M – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bullish trendline up.
A continuation of the upward movement up to the next resistance line at 1.44093 is likely expected.
Caution: A possible change in the direction of the support line at 1.43687 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bearish SBS White Lines’ candlestick chart pattern is found. The chart shows ‘Bearish SBS White Lines’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44492 |
| 2nd High | 1.44326 |
| Next High | 1.44093 |
| Current Price | 1.44142 |
| Next Low | 1.43687 |
| 2nd Low | 1.43633 |
| 3rd Low | 1.43379 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish SBS White Lines