USD/CAD – 30M – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance line at 1.44094 is expected.
Caution: A possible reversal of the trend in the direction of support at 1.43388 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Above the Stomach’ candlestick chart pattern is detected. The candles show ‘Above the Stomach’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Above the Stomach’ heading up is 66% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44632 |
| Next High | 1.44094 |
| Current Price | 1.43919 |
| Next Low | 1.43388 |
| 2nd Low | 1.42974 |
| 3rd Low | 1.42791 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Above the Stomach