USD/CAD – 30M – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline downwards
A bearish descent down to the next support at 1.38734 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 1.38981 should be noted.
Consider stop-loss settings accordingly.
And also a ‘Northern Doji’ candle chart pattern is discovered. The candles form ‘Northern Doji’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39681 |
| 2nd High | 1.39607 |
| Next High | 1.38981 |
| Current Price | 1.39018 |
| Next Low | 1.38734 |
| 2nd Low | 1.38533 |
| 3rd Low | 1.38010 |
1.38811 – 1.38831 – 1.38180 – 1.38734 – 1.38533 – 1.38010 — 59.40612748999 – 54.620788952436 — 29.648093841642 – 16.427174975562 – 44.505539263604 – 30.295698924731
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – –