USD/CAD – 30M – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline upwards
A continuation of the bullish trend upwards to the next resistance at 1.44326 is certain.
Caution: A possible trend reversal in the direction of the support zone at 1.43633 is within the realm of possibility.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish SBS White Lines’ candle pattern is discovered. The candles show ‘Bearish SBS White Lines’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44492 |
| Next High | 1.44326 |
| Current Price | 1.43767 |
| Next Low | 1.43633 |
| 2nd Low | 1.43379 |
| 3rd Low | 1.43349 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Bearish SBS White Lines