USD/CAD – 4H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) jumps from the bullish trendline downwards
A bearish movement down to the next support at 1.40100 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 1.41947 should always be considered.
Consider stop-loss settings accordingly.
Besides a ‘Three Line Strike – Bullish’ chart pattern is existing. The chart forms ‘Three Line Strike – Bullish’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Line Strike – Bullish’ heading up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.41947 |
| Current Price | 1.41660 |
| Next Low | 1.40100 |
| 2nd Low | 1.39802 |
| 3rd Low | 1.39273 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Line Strike – Bullish