USD/CAD – 30M – BUYBesides a ‘Falling Wedge Chart Pattern’ chart layout is discovered. The chart shows ‘Falling Wedge Chart Pattern’. which is a bullish chart scenario. The currency pair is likely to go up.
The pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline upwards
A bullish movement upwards to the next resistance at 1.36717 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 1.35563 should be noted.
Consider stop-loss settings accordingly.
Besides a ‘Northern Doji’ candle chart pattern is detected. The candles show ‘Northern Doji’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37284 |
| 2nd High | 1.36931 |
| Next High | 1.36717 |
| Current Price | 1.36838 |
| Next Low | 1.35563 |
| 2nd Low | 1.35395 |
| 3rd Low |
1.36717 – 1.36931 – 1.35831 – 1.35563 – 1.35395 – 1.35766
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji