USD/CAD – 1H – BUY

The pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bullish trendline upwards

A continuation of the upward movement up to the next resistance level at 1.3952 is likely expected.

Caution: A possible counter-trend in the direction of the support line at 1.38659 could occur.
Consider stop-loss settings accordingly.

Next a ‘Three Outside Up’ candlestick pattern is detected. The chart forms ‘Three Outside Up’. which is a positive signal. The currency pair is likely to rise. 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).

1.3952 – 1.39119 – 1.39247 – 1.38659 – 1.38807 – 1.38147 —
1.39486 – 1.39383 —
63.430508618674 – 47.744125229725 —
– —
1.3952 – 1780880400

Trading Signals: FOREX – USD – USD/CAD – CAD – Three Outside Up – – – – – – – – –