USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the bullish trendline upwards
A continuation of the upward movement up to the next resistance level at 1.38054 is certain.
Caution: A possible change in the direction of the support line at 1.37 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Northern Doji’ chart pattern is discovered. The chart shows ‘Northern Doji’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38717 |
| 2nd High | 1.38225 |
| Next High | 1.38054 |
| Current Price | 1.37610 |
| Next Low | 1.37 |
| 2nd Low | 1.3688 |
| 3rd Low | 1.36571 |
1.37277 – 1.37086 – 1.37009 – 1.37 – 1.3688 – 1.36571 —
1.37840 – 1.37870 —
75.199767195888 – 46.139529130474 —
– —
1.37277 – 1767211200
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – – – – – – – –