USD/CAD – 4H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) moves from the ascending trendline downwards
A descent downwards to the next support level at 1.37500 is considered certain.
Caution: A possible change in the direction of the resistance line at 1.39774 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke the Fibonacci 0.79-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 1.39774 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the resistance line at 1.39774 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Northern Doji’ candle chart pattern is discovered. The chart shows ‘Northern Doji’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44148 |
| 2nd High | 1.42959 |
| Next High | 1.39774 |
| Current Price | 1.39395 |
| Next Low | 1.37500 |
| 2nd Low | |
| 3rd Low |
1.38448 – 1.38620 – 1.39045 – 1.37500 – 1.37599 – 1.37695
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji