USD/CAD – 1H – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline up.
An ascent upwards to the next resistance line at 1.39779 is likely expected.
Caution: A possible trend reversal in the direction of the support zone at 1.39502 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 1.401635 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance zone at 1.39779 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three White Soldiers’ candlestick chart pattern is existing. The chart shows ‘Three White Soldiers’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.40363 |
| 2nd High | 1.40142 |
| Next High | 1.39779 |
| Current Price | 1.39724 |
| Next Low | 1.39502 |
| 2nd Low | 1.39304 |
| 3rd Low | 1.39249 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers