USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline up.
An ascending movement upwards to the next resistance at 1.37877 will persist.
Caution: A possible change in the direction of the support line at 1.37409 is also possible.
Consider stop-loss settings accordingly.
Next a ‘Northern Doji’ candlestick chart pattern is existing. The chart forms ‘Northern Doji’. this is a bullish 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38675 |
| 2nd High | 1.38575 |
| Next High | 1.37877 |
| Current Price | 1.37875 |
| Next Low | 1.37409 |
| 2nd Low | 1.36012 |
| 3rd Low | 1.35665 |
1.37877 – 1.38575 – 1.38568 – 1.37409 – 1.3769 – 1.37825 — 50.629748868189 – 56.095331065996 — 7.1162565677704 – 17.696695581733 – 3.7951270314981 – 9.4338573618279
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – –