USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the descending trendline up.
The bullish trend upwards to the next resistance at 1.44326 is likely expected.
Caution: A possible trend reversal in the direction of support at 1.43443 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke through the Fibonacci 0-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 1.43690564 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance level at 1.44326 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Outside Up’ chart pattern is existing. The candles form ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44492 |
| Next High | 1.44326 |
| Current Price | 1.43490 |
| Next Low | 1.43443 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.43043 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Up