USD/CAD – 1H – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline upwards
An ascending movement up to the next resistance level at 1.38575 is likely expected.
Caution: A possible trend reversal in the direction of the support zone at 1.37409 is also possible.
Consider stop-loss settings accordingly.
There is also a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. this is usually a bullish signal. The pair is likely to go up.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 1.38809412 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance line at 1.38575 is also possible.
Consider stop-loss settings accordingly.
There is also a ‘Northern Doji’ candlestick pattern is detected. The chart shows ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39242 |
| 2nd High | 1.38675 |
| Next High | 1.38575 |
| Current Price | 1.38447 |
| Next Low | 1.37409 |
| 2nd Low | 1.35665 |
| 3rd Low | 1.35561 |
1.38575 – 1.38675 – 1.38637 – 1.37409 – 1.38219 – 1.38164 — 63.792033667169 – 68.006531663661 — 95.138767571597 – 95.138767571597 – 88.641457263288 – 91.710585046554
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – –