USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline down.
The bearish trend downwards to the next support at 1.40156 is considered certain.
Caution: A possible change in the direction of the resistance zone at 1.41449 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three White Soldiers’ chart pattern is discovered. The candles form ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.41778 |
| Next High | 1.41449 |
| Current Price | 1.41294 |
| Next Low | 1.40156 |
| 2nd Low | 1.40100 |
| 3rd Low | 1.40089 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers