USD/CAD – 30M – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the ascending trendline upwards
A continuation of the uptrend up to the next resistance at 1.42504 is expected.
Caution: A possible trend reversal in the direction of the support level at 1.42222 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three White Soldiers’ candlestick chart pattern is found. The chart shows ‘Three White Soldiers’. which is a positive signal. The pair is likely to go up. 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 | |
| 2nd High | 1.42715 |
| Next High | 1.42504 |
| Current Price | 1.42537 |
| Next Low | 1.42222 |
| 2nd Low | 1.42190 |
| 3rd Low | 1.42165 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers