USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline downwards
The bearish trend down to the next support line at 1.41554 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 1.41947 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three White Soldiers’ candle chart pattern is discovered. The chart shows ‘Three White Soldiers’. which is a positive pattern signal. The currency 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’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.41947 |
| Current Price | 1.41661 |
| Next Low | 1.41554 |
| 2nd Low | 1.40930 |
| 3rd Low | 1.40100 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers