USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) jumps from the bullish trendline downwards
A descending movement down to the next support at 1.42791 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 1.43495 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Southern Doji’ candlestick chart pattern is found. The candles form ‘Southern Doji’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44669 |
| 2nd High | 1.44632 |
| Next High | 1.43495 |
| Current Price | 1.43142 |
| Next Low | 1.42791 |
| 2nd Low | 1.42222 |
| 3rd Low | 1.42190 |
Trading Signals: FOREX – USD – USD/CAD – CAD – Southern Doji