USD/CAD – 30M – SELLThere is also a ‘Double top retreat up’ chart layout is detected. The formation shows ‘Double top retreat up’. which is a positive signal. The pair is likely to go up.
The currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the bearish trendline down.
A continuation of the downtrend down to the next support line at is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 1.36749 could happen.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Northern Doji’ candle pattern is existing. The chart forms ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. 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 | 1.36926 |
| 2nd High | 1.36900 |
| Next High | 1.36749 |
| Current Price | 1.36247 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.36749 – 1.36743 – 1.36900 – 1.36496 – 1.36633 – 1.36676
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji