USD/CAD – 30M – BUY

The combination US Dollar/Canadian Dollar (USD/CAD) goes from the bearish trendline down.

A continuation of the bearish trend downwards to the next support level at 1.37927 is expected.

Caution: A possible trend reversal in the direction of the resistance zone at 1.38613 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 1.38014388 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 1.38613 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is discovered. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative signal. The currency pair is likely to fall.

Also there is a ‘Northern Doji’ chart pattern is discovered. The candles form ‘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 likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

Also there is a ‘Double top chart pattern’ chart layout is found. The chart picture forms ‘Double top chart pattern’. which is a negative signal. The currency pair is likely to go down.

Also there is a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. which is often a bearish signal. The currency pair could go down.

1.38613 – 1.38454 – 1.38492 – 1.37927 – 1.37806 – 1.38278

Download USD/CAD Signal Image

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