USD/CAD – 30M – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) jumps from the descending trendline downwards
A continuation of the downward movement down to the next support line at 1.37409 will continue.
Caution: A possible change in the direction of the resistance level at 1.37877 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Northern Doji’ chart pattern is found. The candles show ‘Northern Doji’. which is a bullish signal. The currency 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 | 1.38675 |
| 2nd High | 1.38575 |
| Next High | 1.37877 |
| Current Price | 1.38015 |
| Next Low | 1.37409 |
| 2nd Low | 1.36012 |
| 3rd Low | 1.35665 |
1.37877 – 1.38575 – 1.38568 – 1.37409 – 1.3769 – 1.37825 — 76.164828567221 – 69.550470228523 — 94.584761561128 – 93.843781066793 – 91.324450850217 – 94.337768063016
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – –