USD/CAD – 4H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the ascending trendline up.
A continuation of the bullish trend up to the next resistance level at is certain.
Caution: A possible reversal of the trend in the direction of support at 1.41193 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three White Soldiers’ candle pattern is detected. The chart forms ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.42361 |
| Next Low | 1.41193 |
| 2nd Low | 1.40100 |
| 3rd Low | 1.39802 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers