USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline upwards
An ascent up to the next resistance line at 1.38248 will continue.
Caution: A possible reversal of the trend in the direction of the support level at 1.37685 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Northern Doji’ candle pattern is detected. The candles form ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38538 |
| 2nd High | 1.38418 |
| Next High | 1.38248 |
| Current Price | 1.38230 |
| Next Low | 1.37685 |
| 2nd Low | 1.37341 |
| 3rd Low | 1.35665 |
1.38248 – 1.38418 – 1.38538 – 1.37685 – 1.37341 – 1.38258 — 63.07631148674 – 63.88495204884 — 67.077791671403 – 67.111894206358 – 67.195887486896 – 67.115051848484
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – –