USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline upwards
A bullish trend up to the next resistance at 1.41939 is likely expected.
Caution: A possible reversal of the trend in the direction of the support zone at 1.41588 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Morning Doji Star’ candlestick pattern is detected. The candles form ‘Morning Doji Star’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Morning Doji Star’ going up is 76% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.41947 |
| Next High | 1.41939 |
| Current Price | 1.41870 |
| Next Low | 1.41588 |
| 2nd Low | 1.41554 |
| 3rd Low | 1.40930 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Morning Doji Star