USD/CAD – 1H – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline upwards
A bullish movement upwards to the next resistance line at 1.44419 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 1.43827 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three White Soldiers’ chart pattern is discovered. The chart shows ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44492 |
| Next High | 1.44419 |
| Current Price | 1.44246 |
| Next Low | 1.43827 |
| 2nd Low | 1.43379 |
| 3rd Low | 1.43349 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers