USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline upwards
An ascending movement upwards to the next resistance line at 1.38552 will continue.
Caution: A possible trend reversal in the direction of the support line at 1.37838 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Northern Doji’ candlestick pattern is detected. The chart forms ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to go up. 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).
Additionally a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which could be a positive chart scenario. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38713 |
| 2nd High | 1.38671 |
| Next High | 1.38552 |
| Current Price | 1.38096 |
| Next Low | 1.37838 |
| 2nd Low | 1.37695 |
| 3rd Low |
1.38010 – 1.38552 – 1.38458 – 1.37838 – 1.37695 – 1.38169
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji