USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline up.
A continuation of the bullish trend upwards to the next resistance line at 1.44094 is expected.
Caution: A possible counter-trend in the direction of the support zone at 1.43388 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Outside Up’ candle pattern is existing. The chart forms ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44632 |
| Next High | 1.44094 |
| Current Price | 1.43766 |
| Next Low | 1.43388 |
| 2nd Low | 1.42974 |
| 3rd Low | 1.42791 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Up