USD/CAD – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend will continue. Current target is 1.41068 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance zone at 1.41258 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bullish Engulfing’ chart pattern is detected. The chart shows ‘Bullish Engulfing’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41401 |
| 2nd High | 1.41396 |
| Next High | 1.41258 |
| Current Price | 1.41100 |
| Next Low | 1.40911 |
| 2nd Low | 1.40889 |
| 3rd Low | 1.40812 |
1.41043 – 1.41068 – 1.40649 – 1.40911 – 1.40889 – 1.40812 —
1.41021 – 1.41123 —
51.683971630933 – 59.572496847295 —
– —
1.41043 – 1763953200
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Engulfing – Double bottom chart pattern – – – – – – – –