USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the ascending trendline up.
A continuation of the bullish trend up to the next resistance line at 1.36384 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 1.36031 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. which could be a positive signal. The currency pair could go up.
Furthermore a ‘Three Outside Up’ chart pattern is detected. The candles show ‘Three Outside Up’. this is a bullish 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 Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37243 |
| 2nd High | 1.36734 |
| Next High | 1.36384 |
| Current Price | 1.36411 |
| Next Low | 1.36031 |
| 2nd Low | 1.35931 |
| 3rd Low | 1.35551 |
1.36384 – 1.36359 – 1.36372 – 1.36031 – 1.35931 – 1.35971 —
1.36362 – 1.36376 —
58.880848509966 – 57.996979280734 —
– —
1.36384 – 1771270200
Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Up – Double top chart pattern – – – – – – – –