USD/CAD – 1H – BUYCorrection of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Current target is 1.383085 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of resistance at 1.38552 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Northern Doji’ candlestick chart pattern is detected. The chart forms ‘Northern Doji’. this is a bullish signal. The currency pair is likely to go up. 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).
And also a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. which could be a positive chart signal. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38922 |
| 2nd High | 1.38713 |
| Next High | 1.38552 |
| Current Price | 1.38017 |
| Next Low | 1.37695 |
| 2nd Low | |
| 3rd Low |
1.38552 – 1.38713 – 1.38922 – 1.37695 – 1.38079 – 1.38493
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji