USD/CAD – 30M – SELLAlso there is a ‘Double bottom retreat down’ chart layout is found. The chart forms ‘Double bottom retreat down’. which is a bearish chart scenario. The pair is likely to go down.
The pair US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline down.
A bearish descent down to the next support line at 1.37443 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.37977 is within the realm of possibility.
Consider stop-loss settings accordingly.
Also there is a ‘Northern Doji’ chart pattern is found. The chart forms ‘Northern Doji’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38613 |
| 2nd High | 1.38296 |
| Next High | 1.37977 |
| Current Price | 1.37733 |
| Next Low | 1.37443 |
| 2nd Low | 1.36012 |
| 3rd Low | 1.35665 |
1.37735 – 1.35891 – 1.36239 – 1.37443 – 1.36012 – 1.35665 — 72.168300250058 – 68.342674116259 — 36.504669334858 – 3.1713360015247 – 61.881806125847 – 33.753961244564
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – Double bottom retreat down – –