USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline upwards
A continuation of the bullish trend up to the next resistance level at 1.40639 is considered certain.
Caution: A possible trend reversal in the direction of the support zone at 1.40375 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 0.5-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 1.40635524 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance line at 1.40639 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three White Soldiers’ chart pattern is existing. The chart forms ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41279 |
| 2nd High | 1.40893 |
| Next High | 1.40639 |
| Current Price | 1.40381 |
| Next Low | 1.40375 |
| 2nd Low | 1.40166 |
| 3rd Low | 1.39847 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers