USD/CAD – 30M – BUY

The currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline up.

An ascent up to the next resistance at 1.3959 is likely expected.

Caution: A possible reversal of the trend in the direction of the support zone at 1.393 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘StochRSI %K line crosses above %D line’ indicator layout is detected. The indicator shows ‘StochRSI %K line crosses above %D line’. this is usually a bullish signal. The currency pair could go up.

Next a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. this is usually a bullish chart scenario. The currency pair is likely to rise.

Correction of the major bearish trend broke the Fibonacci 0.79-Level.Continuation of the current ascending trend is likely expected. Current target is 1.39608 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 1.3959 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Advance Block’ candlestick pattern is detected. The chart shows ‘Advance Block’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Advance Block’ heading down is 64% (Bull Market) & 61% (Bear Market).

1.3959 – 1.39608 – 1.39534 – 1.393 – 1.39389 – 1.39259 —
1.39292 – 1.39534 —
24.998890116502 – 63.02187949637 —
– —
1.3959 – 1780974000

Trading Signals: FOREX – USD – USD/CAD – CAD – Advance Block – – – – – – – – –