USD/CAD – 30M – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the descending trendline downwards
A continuation of the bearish trend down to the next support at is likely expected.
Caution: A possible change in the direction of the resistance zone at 1.37982 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart scenario. The currency pair could go down.
In addition a ‘Northern Doji’ candle 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).
In addition a ‘Double top chart pattern’ chart pattern is discovered. The chart picture forms ‘Double top chart pattern’. which is a negative chart scenario. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38448 |
| 2nd High | 1.38325 |
| Next High | 1.37982 |
| Current Price | 1.37840 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.37982 – 1.38325 – 1.38448 – 1.37631 – 1.37500 – 1.37864
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji