USD/CAD – 1H – BUYMoreover a ‘Double top retreat up’ chart pattern is found. The formation shows ‘Double top retreat up’. this is a bullish signal. The pair is likely to go up.
The currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the descending trendline up.
An ascent up to the next resistance at 1.36749 is expected.
Caution: A possible change in the direction of the support level at could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Northern Doji’ candlestick pattern is existing. The chart shows ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37284 |
| 2nd High | 1.36900 |
| Next High | 1.36749 |
| Current Price | 1.36493 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.36749 – 1.36900 – 1.37284 – 1.36496 – 1.36633 – 1.36692
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji