USD/CAD – 30M – SELLThe pair US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline downwards
A descent downwards to the next support at 1.37879 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 1.38595 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The currency pair is likely to fall.
Then a ‘Northern Doji’ candle pattern is found. The candles show ‘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 probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39242 |
| 2nd High | 1.38675 |
| Next High | 1.38595 |
| Current Price | 1.38522 |
| Next Low | 1.37879 |
| 2nd Low | 1.37583 |
| 3rd Low | 1.37409 |
1.38595 – 1.3811 – 1.38334 – 1.37879 – 1.37583 – 1.37826 — 61.992294974522 – 55.20105621086 — 65.699730517097 – 66.824122206731 – 52.812891489625 – 61.471609402118
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – Double bottom chart pattern – –