USD/CAD – 30M – BUYFurthermore a ‘Falling Wedge Chart Pattern’ chart formation is detected. The chart picture forms ‘Falling Wedge Chart Pattern’. which is a positive signal. The currency pair is likely to rise.
The pair US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline up.
The bullish trend up to the next resistance at 1.35831 is certain.
Caution: A possible trend reversal in the direction of the support line at 1.35395 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. which could be a positive chart scenario. The currency pair could go up.
Furthermore a ‘Northern Doji’ candlestick pattern is detected. The chart forms ‘Northern Doji’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36502 |
| 2nd High | 1.36068 |
| Next High | 1.35831 |
| Current Price | 1.35903 |
| Next Low | 1.35395 |
| 2nd Low | |
| 3rd Low |
1.35831 – 1.35820 – 1.36068 – 1.35395 – 1.35766 – 1.35659
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji