USD/CAD – 30M – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the descending trendline downwards
A continuation of the downward movement down to the next support line at 1.37409 will persist.
Caution: A possible reversal of the trend in the direction of resistance at 1.37877 should be noted.
Consider stop-loss settings accordingly.
And also a ‘Northern Doji’ candle pattern is discovered. The candles show ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38675 |
| 2nd High | 1.38575 |
| Next High | 1.37877 |
| Current Price | 1.37737 |
| Next Low | 1.37409 |
| 2nd Low | 1.36012 |
| 3rd Low | 1.35665 |
1.37877 – 1.38575 – 1.38568 – 1.37409 – 1.3769 – 1.37825 — 67.780321489901 – 62.999120045012 — 82.900507667347 – 78.927094782017 – 79.881718741822 – 79.848223164285
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – –