USD/CAD – 1H – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline upwards
A bullish trend upwards to the next resistance line at 1.44326 will continue.
Caution: A possible counter-trend in the direction of support at 1.43379 could occur.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Current target is 1.44253818 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the resistance line at 1.44326 could occur.
Consider stop-loss settings accordingly.
Also there is a ‘Three White Soldiers’ chart pattern is found. The candles form ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44492 |
| Next High | 1.44326 |
| Current Price | 1.44104 |
| Next Low | 1.43379 |
| 2nd Low | 1.43349 |
| 3rd Low | 1.43043 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers