USD/CAD – 1H – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline upwards
A bullish trend upwards to the next resistance at 1.44045 is certain.
Caution: A possible reversal of the trend in the direction of the support line at 1.43646 could occur.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ chart pattern is existing. The candles form ‘Three White Soldiers’. which 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 | 1.44632 |
| 2nd High | 1.44094 |
| Next High | 1.44045 |
| Current Price | 1.44015 |
| Next Low | 1.43646 |
| 2nd Low | 1.43388 |
| 3rd Low | 1.42974 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers