USD/CAD – 1H – SELLFurthermore a ‘Double top chart pattern’ chart layout is detected. The formation shows ‘Double top chart pattern’. which is a negative signal. The pair is likely to go down.
The combination US Dollar/Canadian Dollar (USD/CAD) goes from the bearish trendline down.
A continuation of the bearish trend down to the next support line at 1.36692 is considered certain.
Caution: A possible change in the direction of the resistance line at 1.37071 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which could be a negative chart scenario. The currency pair is likely to fall.
Furthermore a ‘Northern Doji’ candle chart pattern is existing. The chart forms ‘Northern Doji’. which is a positive signal. The pair is likely to go up. 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 | 1.37425 |
| 2nd High | 1.37314 |
| Next High | 1.37071 |
| Current Price | 1.36925 |
| Next Low | 1.36692 |
| 2nd Low | 1.36342 |
| 3rd Low |
1.37071 – 1.37041 – 1.36760 – 1.36692 – 1.36342 – 1.36521
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji