USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bullish trendline up.
A continuation of the uptrend up to the next resistance line at 1.39407 is expected.
Caution: A possible trend reversal in the direction of support at 1.38964 could occur.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Current target is 1.39442 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at 1.39407 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is discovered. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish signal. The pair is likely to go up.
Additionally a ‘Northern Doji’ candlestick chart pattern is discovered. The candles show ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Additionally a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which could be a positive chart scenario. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39774 |
| 2nd High | 1.39442 |
| Next High | 1.39407 |
| Current Price | 1.39699 |
| Next Low | 1.38964 |
| 2nd Low | 1.38132 |
| 3rd Low | 1.37726 |
1.39407 – 1.39442 – 1.39423 – 1.38964 – 1.39062 – 1.38132
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji