USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline up.
A continuation of the uptrend upwards to the next resistance level at 1.38811 is certain.
Caution: A possible change in the direction of the support level at 1.38533 is also possible.
Consider stop-loss settings accordingly.
In addition a ‘Northern Doji’ candle pattern is existing. The chart shows ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38886 |
| 2nd High | 1.38831 |
| Next High | 1.38811 |
| Current Price | 1.38755 |
| Next Low | 1.38533 |
| 2nd Low | 1.38010 |
| 3rd Low | 1.37959 |
1.38811 – 1.38831 – 1.38180 – 1.38533 – 1.38010 – 1.37959 — 53.719852289452 – 54.997312912893 — 56.935573679211 – 66.375159673774 – 49.81448806743 – 56.746694616401
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – –