USD/CAD – 1H – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline up.
A continuation of the uptrend upwards to the next resistance line at 1.38193 is expected.
Caution: A possible trend reversal in the direction of support at 1.37874 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Northern Doji’ candle chart pattern is detected. The candles form ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. 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 | 1.38613 |
| 2nd High | 1.38296 |
| Next High | 1.38193 |
| Current Price | 1.38237 |
| Next Low | 1.37874 |
| 2nd Low | 1.35665 |
| 3rd Low | 1.35561 |
1.38193 – 1.38192 – 1.37735 – 1.37874 – 1.35665 – 1.35561 — 56.272519107633 – 65.10507845622 — 34.373065973512 – 66.666666666667 – 16.283190128249 – 35.198250608574
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – –