USD/CAD – 1H – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline up.
An ascent up to the next resistance at 1.40893 is expected.
Caution: A possible change in the direction of the support level at 1.40089 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bullish Tri-Star’ candle chart pattern is existing. The candles show ‘Bullish Tri-Star’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Tri-Star’ going up is 60% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.41778 |
| Next High | 1.40893 |
| Current Price | 1.40766 |
| Next Low | 1.40089 |
| 2nd Low | 1.39847 |
| 3rd Low | 1.39802 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Tri-Star