USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the ascending trendline up.
A continuation of the bullish trend upwards to the next resistance line at 1.3815 is likely expected.
Caution: A possible reversal of the trend in the direction of support at 1.37512 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Northern Doji’ candle chart pattern is found. The chart shows ‘Northern Doji’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘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 | 1.38295 |
| Next Low | 1.37512 |
| 2nd Low | 1.37448 |
| 3rd Low | 1.37 |
1.3815 – 1.37277 – 1.37086 – 1.37512 – 1.37448 – 1.37 —
1.38258 – 1.38046 —
70.019627122679 – 51.102029185814 —
– —
1.38150 – 1767625200
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – – – – – – – –