USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline upwards
A continuation of the bullish trend upwards to the next resistance line at 1.38310 is likely expected.
Caution: A possible trend reversal in the direction of support at 1.37827 could occur.
Consider stop-loss settings accordingly.
Moreover a ‘Northern Doji’ chart pattern is existing. The chart shows ‘Northern Doji’. which is a bullish signal. 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38886 |
| 2nd High | 1.38613 |
| Next High | 1.38310 |
| Current Price | 1.38131 |
| Next Low | 1.37827 |
| 2nd Low | 1.35665 |
| 3rd Low | 1.35561 |
1.38310 – 1.38193 – 1.38192 – 1.37827 – 1.37874 – 1.35665 — 54.054172577133 – 57.060147126842 — 40.527223454053 – 53.655943257997 – 33.866262107597 – 42.143298625969
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – –