USD/CAD – 30M – SELL

Besides a ‘Double bottom retreat down’ chart layout is found. The chart forms ‘Double bottom retreat down’. this is a bearish chart scenario. The pair is likely to go down.

The pair US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline down.

The bearish trend downwards to the next support at 1.37443 is considered certain.

Caution: A possible change in the direction of resistance at 1.37977 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Northern Doji’ candlestick pattern is found. The candles form ‘Northern Doji’. which is a positive 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’ going up is 52% (Bull Market) & 51% (Bear Market).

1.37735 – 1.35891 – 1.36239 – 1.37443 – 1.36012 – 1.35665 — 72.168300250058 – 68.342674116259 — 36.504669334858 – 3.1713360015247 – 61.881806125847 – 33.753961244564

Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – Double bottom retreat down – –