USD/CAD – 30M – BUYAlso there is a ‘Double bottom chart pattern’ chart layout is existing. The chart shows ‘Double bottom chart pattern’. which is a bullish chart scenario. The currency pair is likely to go up.
The currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bullish trendline up.
A continuation of the bullish trend up to the next resistance at 1.37314 will persist.
Caution: A possible reversal of the trend in the direction of the support level at 1.36704 could happen.
Consider stop-loss settings accordingly.
Also there is a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. which could be a positive signal. The pair is likely to go up.
Also there is a ‘Northern Doji’ candlestick pattern is discovered. The candles form ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to go up. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38296 |
| 2nd High | 1.37425 |
| Next High | 1.37314 |
| Current Price | 1.37169 |
| Next Low | 1.36704 |
| 2nd Low | 1.36692 |
| 3rd Low | 1.36600 |
1.37071 – 1.37030 – 1.37041 – 1.36704 – 1.36692 – 1.36766
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji