USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline upwards
An ascent upwards to the next resistance line at 1.38448 is considered certain.
Caution: A possible change in the direction of the support level at could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 1.38448 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance line at 1.38448 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is found. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bullish chart scenario. The pair is likely to go up.
Furthermore a ‘Northern Doji’ candle chart pattern is found. The chart forms ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38671 |
| 2nd High | 1.38620 |
| Next High | 1.38448 |
| Current Price | 1.38253 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.38448 – 1.38293 – 1.38185 – 1.37864 – 1.37599 – 1.38026
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji