USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline up.
A continuation of the upward movement up to the next resistance level at 1.38397 will continue.
Caution: A possible counter-trend in the direction of support at 1.37599 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Target of the current trend is 1.38401506 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the resistance line at 1.38397 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Northern Doji’ candle chart pattern is found. The chart shows ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to go up. 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 | 1.38671 |
| 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