USD/CAD – 30M – BUYBesides a ‘Double top chart pattern’ chart formation is existing. The chart shows ‘Double top chart pattern’. which is a negative chart scenario. The pair is likely to go down.
The pair US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline up.
A continuation of the bullish trend up to the next resistance line at 1.37284 will persist.
Caution: A possible change in the direction of support at 1.36704 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. which could be a positive chart signal. The currency pair could go up.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will persist. Target of the current trend is 1.36942 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance line at 1.37284 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Northern Doji’ chart pattern is existing. The chart forms ‘Northern Doji’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37425 |
| 2nd High | 1.37314 |
| Next High | 1.37284 |
| Current Price | 1.36764 |
| Next Low | 1.36704 |
| 2nd Low | 1.36692 |
| 3rd Low | 1.36600 |
1.37284 – 1.37071 – 1.37030 – 1.36704 – 1.36692 – 1.36766
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji