USD/CAD – 1H – BUYThe combination breaks through the bullish trendline up.
A continuation of the uptrend up to the next resistance level at 1.39504 will persist.
Caution: A possible counter-trend in the direction of the support level at 1.38418 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three White Soldiers’ candle chart pattern is detected. The chart forms ‘Three White Soldiers’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39585 |
| 2nd High | 1.39583 |
| Next High | 1.39504 |
| Current Price | 1.39460 |
| Next Low | 1.38418 |
| 2nd Low | 1.38182 |
| 3rd Low | 1.38122 |