USD/CAD – 1H – BUYMoreover a ‘Falling Wedge Chart Pattern’ chart pattern is discovered. The chart picture shows ‘Falling Wedge Chart Pattern’. which is a bullish signal. The currency pair is likely to go up.
The combination US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline upwards
An ascent upwards to the next resistance line at 1.36514 is likely expected.
Caution: A possible reversal of the trend in the direction of support at 1.35659 could happen.
Consider stop-loss settings accordingly.
Moreover a ‘Northern Doji’ candle chart pattern is discovered. The chart shows ‘Northern Doji’. this is a bullish pattern signal. The 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 | 1.36900 |
| 2nd High | 1.36749 |
| Next High | 1.36514 |
| Current Price | 1.35947 |
| Next Low | 1.35659 |
| 2nd Low | |
| 3rd Low |
1.36514 – 1.36749 – 1.36900 – 1.35659 – 1.35921 – 1.36496
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji