USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline up.
A continuation of the upward movement upwards to the next resistance line at 1.38620 will continue.
Caution: A possible change in the direction of the support zone at 1.37958 is within the realm of possibility.
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 continue. Current target is 1.384017 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of resistance at 1.38620 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Northern Doji’ chart pattern is found. The candles form ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. 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).
Furthermore a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. which could be a positive chart signal. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38713 |
| 2nd High | 1.38671 |
| Next High | 1.38620 |
| Current Price | 1.38265 |
| Next Low | 1.37958 |
| 2nd Low | 1.37838 |
| 3rd Low | 1.37695 |
1.38620 – 1.38010 – 1.38552 – 1.37958 – 1.37838 – 1.37695
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji