USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline up.
A bullish trend upwards to the next resistance line at 1.38575 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 1.37409 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. which is often a bullish chart signal. The pair is likely to go up.
There is also a ‘Northern Doji’ candlestick pattern is detected. The candles form ‘Northern Doji’. this is a bullish 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 | 1.39242 |
| 2nd High | 1.38675 |
| Next High | 1.38575 |
| Current Price | 1.38083 |
| Next Low | 1.37409 |
| 2nd Low | 1.36012 |
| 3rd Low | 1.35665 |
1.37877 – 1.38575 – 1.38568 – 1.37409 – 1.3769 – 1.37825 — 74.351781348976 – 76.185634499057 — 94.592728255322 – 94.592728255322 – 88.284755845466 – 91.338021421825
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – Double top chart pattern – –