USD/CAD – 1H – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline up.
A bullish trend up to the next resistance level at 1.38283 is likely expected.
Caution: A possible change in the direction of the support level at could occur.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is found. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which is often a bullish signal. The currency pair is likely to rise.
Besides a ‘Northern Doji’ chart pattern is found. The chart shows ‘Northern Doji’. which is a bullish 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38620 |
| 2nd High | 1.38397 |
| Next High | 1.38283 |
| Current Price | 1.38387 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.38283 – 1.38397 – 1.38620 – 1.37864 – 1.37599 – 1.37695
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji