USD/CAD – 1H – BUY

The pair US Dollar/Canadian Dollar (USD/CAD) breaks through the bearish trendline up.

The bullish trend upwards to the next resistance level at 1.37590 will persist.

Caution: A possible reversal of the trend in the direction of the support level at 1.36273 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Target of the current trend is 1.37075 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 1.37590 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Northern Doji’ candle chart pattern is found. The candles form ‘Northern Doji’. which 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 chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.37590 – 1.37543 – 1.37977 – 1.36273 – 1.36173 – 1.36782

Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji –