USD/CAD – 1H – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline upwards
A bullish ascent up to the next resistance level at 1.40663 will continue.
Caution: A possible reversal of the trend in the direction of the support zone at 1.40100 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three White Soldiers’ candlestick chart pattern is existing. The candles form ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to rise. 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 | 1.40893 |
| 2nd High | 1.40828 |
| Next High | 1.40663 |
| Current Price | 1.40908 |
| Next Low | 1.40100 |
| 2nd Low | 1.40089 |
| 3rd Low | 1.39847 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers