USD/CAD – 30M – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline upwards
A continuation of the bullish trend up to the next resistance at 1.38397 is expected.
Caution: A possible reversal of the trend in the direction of the support zone at 1.37599 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.38401506 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.38397 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Northern Doji’ candlestick chart pattern is existing. The candles show ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38671 |
| 2nd High | 1.38620 |
| Next High | 1.38397 |
| Current Price | 1.38182 |
| Next Low | 1.37599 |
| 2nd Low | |
| 3rd Low |
1.38397 – 1.38620 – 1.38010 – 1.37599 – 1.38026 – 1.37958
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji