USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the ascending trendline upwards
A continuation of the bullish trend up to the next resistance level at is expected.
Caution: A possible counter-trend in the direction of support at 1.39932 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.40195 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance zone at could occur.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three White Soldiers’ candlestick pattern is detected. 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 likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.40305 |
| Next Low | 1.39932 |
| 2nd Low | 1.39304 |
| 3rd Low | 1.39249 |