USD/CAD – 4H – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline up.
An ascent upwards to the next resistance at 1.38538 will persist.
Caution: A possible change in the direction of the support zone at 1.37583 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Northern Doji’ candle chart pattern is detected. The chart forms ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.40045 |
| 2nd High | 1.39242 |
| Next High | 1.38538 |
| Current Price | 1.38449 |
| Next Low | 1.37583 |
| 2nd Low | 1.35561 |
| 3rd Low | 1.35395 |
1.38538 – 1.38145 – 1.39242 – 1.37583 – 1.38141 – 1.37827 — 59.893087745369 – 60.13788387446 — 73.019460948937 – 85.074916042366 – 49.298200292775 – 67.954734636471
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – –