USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bullish trendline up.
A continuation of the upward movement up to the next resistance at 1.39045 is certain.
Caution: A possible counter-trend in the direction of the support line at 1.38396 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart scenario. The currency pair is likely to rise.
In addition a ‘Northern Doji’ candlestick pattern is detected. 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’ going up is 52% (Bull Market) & 51% (Bear Market).
In addition a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. this is usually a bullish chart signal. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39774 |
| 2nd High | 1.39058 |
| Next High | 1.39045 |
| Current Price | 1.38872 |
| Next Low | 1.38396 |
| 2nd Low | 1.37978 |
| 3rd Low | 1.37966 |
1.39045 – 1.38604 – 1.38613 – 1.38396 – 1.37978 – 1.37966
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji