USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance level at 1.44419 is likely expected.
Caution: A possible reversal of the trend in the direction of the support line at 1.43827 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three White Soldiers’ candle pattern is existing. The chart forms ‘Three White Soldiers’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44492 |
| Next High | 1.44419 |
| Current Price | 1.44246 |
| Next Low | 1.43827 |
| 2nd Low | 1.43687 |
| 3rd Low | 1.43633 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers