USD/CAD – 1H – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline downwards
A bearish descent down to the next support at 1.37512 will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.3815 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Northern Doji’ candlestick chart pattern is discovered. The chart forms ‘Northern Doji’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38717 |
| 2nd High | 1.38225 |
| Next High | 1.3815 |
| Current Price | 1.38118 |
| Next Low | 1.37512 |
| 2nd Low | 1.37448 |
| 3rd Low | 1.37 |
1.3815 – 1.37277 – 1.37086 – 1.37512 – 1.37448 – 1.37 —
1.38072 – 1.38202 —
67.546757802678 – 66.325859938651 —
– —
1.38150 – 1767625200
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – Rising Wedge Chart Pattern – – – – – – – –