USD/CAD – 30M – SELLMoreover a ‘Double top chart pattern’ chart layout is found. The chart shows ‘Double top chart pattern’. this is a bearish signal. The pair is likely to go down.
The pair US Dollar/Canadian Dollar (USD/CAD) moves from the bearish trendline downwards
A continuation of the downtrend down to the next support level at 1.35997 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 1.36183 is within the realm of possibility.
Consider stop-loss settings accordingly.
Moreover a ‘Northern Doji’ candle chart pattern is found. The chart shows ‘Northern Doji’. which is a positive chart scenario. 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 | 1.37590 |
| 2nd High | 1.36823 |
| Next High | 1.36183 |
| Current Price | 1.35987 |
| Next Low | 1.35997 |
| 2nd Low | 1.35563 |
| 3rd Low | 1.35395 |
1.36183 – 1.36823 – 1.37590 – 1.35997 – 1.36532 – 1.36273
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – Double top chart pattern