USD/CAD – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.363885 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance line at 1.36742 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bullish Tri-Star’ chart pattern is found. The candles show ‘Bullish Tri-Star’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Tri-Star’ going up is 60% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37525 |
| 2nd High | 1.3716 |
| Next High | 1.36742 |
| Current Price | 1.35800 |
| Next Low | 1.35252 |
| 2nd Low | 1.35039 |
| 3rd Low | 1.34929 |
1.36742 – 1.3716 – 1.37525 – 1.35252 – 1.36151 – 1.36265 —
1.35784 – 1.35980 —
46.412016062395 – 53.00330971532 —
– —
1.36742 – 1772812800
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Tri-Star – – – – – – – – –