USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the bullish trendline up.
A continuation of the upward movement upwards to the next resistance line at 1.44094 is certain.
Caution: A possible reversal of the trend in the direction of support at 1.43388 could occur.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.44094 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 1.44094 could occur.
Consider stop-loss settings accordingly.
Next a ‘Three White Soldiers’ candlestick pattern is existing. The candles form ‘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 probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44632 |
| Next High | 1.44094 |
| Current Price | 1.43992 |
| Next Low | 1.43388 |
| 2nd Low | 1.42974 |
| 3rd Low | 1.42791 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Three White Soldiers