USD/CAD – 30M – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline upwards
A continuation of the uptrend up to the next resistance level at 1.36447 is likely expected.
Caution: A possible trend reversal in the direction of the support line at 1.36198 should be noted.
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 pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.36447 |
| Current Price | 1.36366 |
| Next Low | 1.36198 |
| 2nd Low | 1.35777 |
| 3rd Low | 1.3575 |
1.36447 – 1.36432 – 1.36415 – 1.36198 – 1.35777 – 1.36063 —
1.36447 – 1.36388 —
54.651095916441 – 54.012862219416 —
1.36447 – 1778173200 —
– 1778173200
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – – – – – – – –