USD/CAD – 1H – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline up.
A bullish movement up to the next resistance line at 1.38675 is expected.
Caution: A possible reversal of the trend in the direction of the support zone at 1.37931 could happen.
Consider stop-loss settings accordingly.
Also there is a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. this is usually a bullish chart signal. The currency pair is likely to rise.
Also there is a ‘Northern Doji’ chart pattern is detected. The candles form ‘Northern Doji’. this is a bullish signal. The 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 | 1.39681 |
| 2nd High | 1.39242 |
| Next High | 1.38675 |
| Current Price | 1.38639 |
| Next Low | 1.37931 |
| 2nd Low | 1.37879 |
| 3rd Low | 1.37583 |
1.38538 – 1.38575 – 1.38675 – 1.37931 – 1.37879 – 1.37583 — 58.34297327784 – 61.833300452705 — 36.494656803945 – 65.26870848069 – 21.224304055554 – 38.068088959639
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – –