USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline upwards
An ascending movement upwards to the next resistance line at 1.38689 is likely expected.
Caution: A possible change in the direction of the support level at 1.38278 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Northern Doji’ candle pattern is discovered. The candles form ‘Northern Doji’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39774 |
| 2nd High | 1.39058 |
| Next High | 1.38689 |
| Current Price | 1.38092 |
| Next Low | 1.38278 |
| 2nd Low | |
| 3rd Low |
1.38689 – 1.39058 – 1.39774 – 1.38278 – 1.38649 – 1.38521
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji