The combination US Dollar/Canadian Dollar (USD/CAD) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance at will continue.
Caution: A possible counter-trend in the direction of the support level at 1.39932 could be enabled.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ candle chart pattern is existing. The chart shows ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
Support & Resistance | Price Range* |
---|---|
3rd High | |
2nd High | |
Next High | |
Current Price | 1.40608 |
Next Low | 1.39932 |
2nd Low | 1.39304 |
3rd Low | 1.39249 |