USD/CAD – 30M – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline up.
An ascending movement up to the next resistance level at 1.43725 will persist.
Caution: A possible reversal of the trend in the direction of the support level at should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is found. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which could be a positive chart scenario. The pair is likely to go up.
Besides a ‘Northern Doji’ chart pattern is discovered. The chart forms ‘Northern Doji’. which is a bullish chart scenario. The pair is likely to go up. 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).
Besides a ‘Double top chart pattern’ chart layout is existing. The chart picture shows ‘Double top chart pattern’. which is a bearish chart scenario. The currency pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44361 |
| 2nd High | 1.44012 |
| Next High | 1.43725 |
| Current Price | 1.43392 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.43725 – 1.43436 – 1.44012 – 1.43132 – 1.43142 – 1.43124
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji