USD/CAD – 1H – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline upwards
A bullish ascent upwards to the next resistance line at 1.38426 is likely expected.
Caution: A possible trend reversal in the direction of the support level at 1.38141 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Northern Doji’ candle pattern is existing. The candles show ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.3977 |
| 2nd High | 1.39284 |
| Next High | 1.38426 |
| Current Price | 1.38309 |
| Next Low | 1.38141 |
| 2nd Low | 1.37899 |
| 3rd Low | 1.37512 |
1.38426 – 1.38426 – 1.39284 – 1.38141 – 1.38593 – 1.38842 —
1.38385 – 1.38270 —
42.682422089538 – 47.468351364921 —
– —
1.38426 – 1768993200
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – Inverse Head and Shoulder chart pattern – – – – – – – –