USD/CAD – 1H – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline up.
An ascending movement up to the next resistance line at 1.38538 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bullish chart signal. The pair is likely to go up.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Current target is 1.38675 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.38538 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Northern Doji’ candle chart pattern is discovered. The candles show ‘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 likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38675 |
| 2nd High | 1.38575 |
| Next High | 1.38538 |
| Current Price | 1.38584 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.38538 – 1.38575 – 1.38675 – 1.38258 – 1.38302 – 1.37931 — 53.911644641496 – 60.447229974287 — 86.606189608967 – 94.224311618536 – 77.840770969059 – 86.955861016317
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – –