USD/CAD – 1H – BUY

The currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the ascending trendline up.

A continuation of the bullish trend upwards to the next resistance level at 1.37314 is likely expected.

Caution: A possible change in the direction of the support line at 1.36692 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish chart signal. The currency pair is likely to rise.

In addition a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. this is usually a bullish chart signal. The currency pair could go up.

Correction of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 1.37314 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the resistance level at 1.37314 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Northern Doji’ candlestick pattern is existing. The candles show ‘Northern Doji’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

1.37071 – 1.37041 – 1.36760 – 1.36692 – 1.36342 – 1.36521

Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji