USD/CAD – 30M – BUYCorrection of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Current target is 1.38562 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of resistance at 1.38922 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Northern Doji’ chart pattern is detected. The chart forms ‘Northern Doji’. which is a positive pattern 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 | 1.39045 |
| 2nd High | 1.38986 |
| Next High | 1.38922 |
| Current Price | 1.38464 |
| Next Low | 1.38079 |
| 2nd Low | 1.37978 |
| 3rd Low | 1.37966 |
1.38922 – 1.38921 – 1.38986 – 1.38079 – 1.38160 – 1.38623
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji