USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline upwards
An ascending movement up to the next resistance line at 1.40207 will persist.
Caution: A possible counter-trend in the direction of the support level at 1.39273 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three White Soldiers’ candle pattern is detected. The candles show ‘Three White Soldiers’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41023 |
| 2nd High | 1.40363 |
| Next High | 1.40207 |
| Current Price | 1.39882 |
| Next Low | 1.39273 |
| 2nd Low | 1.39249 |
| 3rd Low | 1.38418 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers