USD/CAD – 1H – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) jumps from the descending trendline upwards
A bullish ascent upwards to the next resistance level at 1.37284 is expected.
Caution: A possible trend reversal in the direction of the support zone at 1.36342 could be enabled.
Consider stop-loss settings accordingly.
Also there is a ‘Northern Doji’ candle pattern is found. The chart shows ‘Northern Doji’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37425 |
| 2nd High | 1.37314 |
| Next High | 1.37284 |
| Current Price | 1.36667 |
| Next Low | 1.36342 |
| 2nd Low | |
| 3rd Low |
1.37284 – 1.37071 – 1.37041 – 1.36633 – 1.36692 – 1.36342
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji