USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bullish trendline up.
A continuation of the bullish trend up to the next resistance at 1.44669 is certain.
Caution: A possible change in the direction of the support level at 1.43043 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Outside Up’ candlestick pattern is existing. The candles show ‘Three Outside Up’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.44669 |
| Current Price | 1.43686 |
| Next Low | 1.43043 |
| 2nd Low | 1.42984 |
| 3rd Low | 1.42222 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Up