USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) jumps from the ascending trendline downwards
A bearish movement downwards to the next support level at is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.38921 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish signal. The currency pair could go down.
Furthermore a ‘Northern Doji’ chart pattern is existing. The chart shows ‘Northern Doji’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39045 |
| 2nd High | 1.38986 |
| Next High | 1.38921 |
| Current Price | 1.38552 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.38921 – 1.38986 – 1.39045 – 1.38396 – 1.37978 – 1.37927
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji