USD/CAD – 30M – BUYFurthermore a ‘Double top chart pattern’ chart layout is discovered. The formation shows ‘Double top chart pattern’. which is a negative pattern signal. The currency pair is likely to fall.
The pair US Dollar/Canadian Dollar (USD/CAD) jumps from the descending trendline upwards
A bullish movement upwards to the next resistance at 1.36900 is expected.
Caution: A possible change in the direction of the support line at 1.36633 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. which could be a positive signal. The currency pair is likely to rise.
Furthermore a ‘Northern Doji’ candle pattern is discovered. The candles show ‘Northern Doji’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37284 |
| 2nd High | 1.36926 |
| Next High | 1.36900 |
| Current Price | 1.36708 |
| Next Low | 1.36633 |
| 2nd Low | 1.36600 |
| 3rd Low | 1.36342 |
1.36900 – 1.36926 – 1.37284 – 1.36633 – 1.36676 – 1.36704
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji