USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline up.
A bullish trend up to the next resistance line at 1.40313 is likely expected.
Caution: A possible counter-trend in the direction of the support level at 1.39981 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three White Soldiers’ candlestick chart pattern is existing. The chart forms ‘Three White Soldiers’. which is a bullish signal. The 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 | 1.40775 |
| 2nd High | 1.40651 |
| Next High | 1.40313 |
| Current Price | 1.40083 |
| Next Low | 1.39981 |
| 2nd Low | 1.39508 |
| 3rd Low | 1.39273 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers