USD/CAD – 30M – BUY

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

A bullish movement up to the next resistance line at 1.42093 is expected.

Caution: A possible trend reversal in the direction of the support level at 1.41889 is within the realm of possibility.
Consider stop-loss settings accordingly.

Moreover a ‘MACD-Hist Bullish Divergence’ indicator signal is detected. The indicator is ‘MACD-Hist Bullish Divergence’. In der Regel bedeutet das ein positives signal. Die Paarung wird wahrscheinlich steigen.

Moreover a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. which is often a bullish chart signal. The pair is likely to go up.

Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 1.42082 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance level at 1.42093 is within the realm of possibility.
Consider stop-loss settings accordingly.

Moreover a ‘Three Outside Up’ candle pattern is existing. The chart forms ‘Three Outside Up’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

1.42093 – 1.42478 – 1.4243 – 1.41889 – 1.41772 – 1.4215 —
1.41872 – 1.41927 —
39.04171660427 – 47.573755965073 —
– —
1.42093 – 1782450000

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