USD/CAD – 1H – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) jumps from the bearish trendline downwards
A continuation of the downward movement downwards to the next support level at 1.40394 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 1.41068 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Northern Doji’ candle chart pattern is discovered. The chart forms ‘Northern Doji’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41401 |
| 2nd High | 1.41396 |
| Next High | 1.41068 |
| Current Price | 1.40848 |
| Next Low | 1.40394 |
| 2nd Low | 1.3971 |
| 3rd Low | 1.38876 |
1.41068 – 1.40649 – 1.4062 – 1.40394 – 1.3971 – 1.40138 —
1.40973 – 1.40920 —
62.669028942317 – 57.233496424509 —
– —
1.41068 – 1763665200
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – Double top retreat up – – – –