USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the descending trendline downwards
A continuation of the bearish trend down to the next support line at will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 1.36926 could occur.
Consider stop-loss settings accordingly.
Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart signal. The currency pair could go down.
Next a ‘Northern Doji’ candle pattern is detected. The chart forms ‘Northern Doji’. 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 success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37314 |
| 2nd High | 1.37284 |
| Next High | 1.36926 |
| Current Price | 1.36629 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.36926 – 1.37284 – 1.37071 – 1.36633 – 1.36676 – 1.36704
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji