USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline upwards
A bullish ascent up to the next resistance line at 1.39045 will persist.
Caution: A possible change in the direction of the support line at 1.37978 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Current target is 1.38752596 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance zone at 1.39045 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish chart scenario. The currency pair could go up.
Moreover a ‘Northern Doji’ candlestick pattern is detected. The chart forms ‘Northern Doji’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Moreover a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which could be a positive signal. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39774 |
| 2nd High | 1.39058 |
| Next High | 1.39045 |
| Current Price | 1.38580 |
| Next Low | 1.37978 |
| 2nd Low | 1.37966 |
| 3rd Low | 1.37927 |
1.39045 – 1.38604 – 1.38613 – 1.37978 – 1.37966 – 1.37927
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji