USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline upwards
An ascent up to the next resistance line at 1.38575 is certain.
Caution: A possible counter-trend in the direction of the support zone at 1.37826 should always be considered.
Consider stop-loss settings accordingly.
Then a ‘Northern Doji’ candlestick pattern is discovered. The chart forms ‘Northern Doji’. which is a bullish signal. The 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 | 1.39242 |
| 2nd High | 1.38675 |
| Next High | 1.38575 |
| Current Price | 1.37935 |
| Next Low | 1.37826 |
| 2nd Low | 1.37409 |
| 3rd Low | 1.36012 |
1.38057 – 1.37877 – 1.38575 – 1.37826 – 1.37877 – 1.37409 — 28.748104908755 – 31.962625727997 — 3.3119728700095 – 13.70813239083 – 11.362708780553 – 6.6153947970185
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – –