USD/CAD – 1H – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline up.
A bullish trend upwards to the next resistance level at 1.40649 is likely expected.
Caution: A possible change in the direction of the support level at 1.3971 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Northern Doji’ candlestick pattern is discovered. The candles show ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.41396 |
| Next High | 1.40649 |
| Current Price | 1.40567 |
| Next Low | 1.3971 |
| 2nd Low | 1.38876 |
| 3rd Low | 1.3885 |
1.40649 – 1.4062 – 1.40213 – 1.3971 – 1.40138 – 1.39896 —
1.40649 – 1.40497 —
73.353792823365 – 63.092570143623 —
1.40649 – 1763578800 —
– 1763578800
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – – – –