USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline up.
A bullish ascent upwards to the next resistance level at 1.40363 will continue.
Caution: A possible change in the direction of the support zone at 1.39505 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three White Soldiers’ candle chart pattern is found. The candles form ‘Three White Soldiers’. this is a bullish 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’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41054 |
| 2nd High | 1.41023 |
| Next High | 1.40363 |
| Current Price | 1.39783 |
| Next Low | 1.39505 |
| 2nd Low | 1.39304 |
| 3rd Low | 1.39249 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers