USD/CAD – 1H – BUY

The pair US Dollar/Canadian Dollar (USD/CAD) moves from the descending trendline down.

A continuation of the bearish trend downwards to the next support line at 1.37927 is certain.

Caution: A possible change in the direction of resistance at 1.38492 could happen.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.37806 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support line at 1.38492 could happen.
Consider stop-loss settings accordingly.

Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish signal. The pair is likely to go down.

Then a ‘Northern Doji’ candle chart pattern is discovered. The candles form ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

Then a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. which could be a negative chart scenario. The currency pair is likely to fall.

1.38492 – 1.38689 – 1.39058 – 1.37927 – 1.37806 – 1.38278

Download USD/CAD Signal Image

Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji