USD/CAD – 30M – SELLIn addition a ‘Double bottom retreat down’ chart layout is discovered. The formation shows ‘Double bottom retreat down’. which is a bearish signal. The pair is likely to go down.
The combination US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline downwards
A descending movement down to the next support line at 1.38302 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.38619 could occur.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Northern Doji’ candlestick chart pattern is discovered. The candles show ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. 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 | 1.38619 |
| Current Price | 1.38591 |
| Next Low | 1.38302 |
| 2nd Low | 1.37879 |
| 3rd Low | 1.37583 |
1.38619 – 1.38595 – 1.3811 – 1.38302 – 1.37879 – 1.37583 — 60.09064716786 – 54.848184743137 — 89.353101655454 – 85.318021453772 – 86.165507325039 – 85.967443211305
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – Double bottom retreat down – –