USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline upwards
A bullish ascent upwards to the next resistance level at 1.4062 is expected.
Caution: A possible trend reversal in the direction of the support level at 1.3971 should be noted.
Consider stop-loss settings accordingly.
Besides a ‘Northern Doji’ candlestick pattern is existing. The candles form ‘Northern Doji’. this is a bullish pattern signal. 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 | 1.41401 |
| 2nd High | 1.41396 |
| Next High | 1.4062 |
| Current Price | 1.40582 |
| Next Low | 1.3971 |
| 2nd Low | 1.38876 |
| 3rd Low | 1.3885 |
1.4062 – 1.40213 – 1.40408 – 1.3971 – 1.40138 – 1.39896 —
1.40073 – 1.40579 —
49.993969916293 – 68.786451130549 —
– —
1.40620 – 1763445600
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – – – –