USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline upwards
A bullish trend up to the next resistance at 1.43682 will continue.
Caution: A possible trend reversal in the direction of support at 1.42974 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Three White Soldiers’ candlestick chart pattern is detected. The chart shows ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44632 |
| Next High | 1.43682 |
| Current Price | 1.43665 |
| Next Low | 1.42974 |
| 2nd Low | 1.42791 |
| 3rd Low | 1.42165 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers