USD/CAD – 30M – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the bullish trendline up.
A continuation of the bullish trend upwards to the next resistance at 1.38981 is considered certain.
Caution: A possible trend reversal in the direction of the support line at 1.38734 should be noted.
Consider stop-loss settings accordingly.
Moreover a ‘Northern Doji’ candle chart pattern is found. The chart forms ‘Northern Doji’. this is a bullish pattern signal. The pair is likely to go up. 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 | 1.39681 |
| 2nd High | 1.39607 |
| Next High | 1.38981 |
| Current Price | 1.39070 |
| Next Low | 1.38734 |
| 2nd Low | 1.38533 |
| 3rd Low | 1.38010 |
1.38811 – 1.38831 – 1.38180 – 1.38734 – 1.38533 – 1.38010 — 55.954776102693 – 60.301714057726 — 11.78092939354 – 15.999369837733 – 19.21956551602 – 14.708196954744
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – –