USD/CAD – 4H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Current target is 1.4086065 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.41401 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Northern Doji’ chart pattern is detected. The candles show ‘Northern Doji’. which 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.44148 |
| 2nd High | 1.42959 |
| Next High | 1.41401 |
| Current Price | 1.40176 |
| Next Low | 1.38876 |
| 2nd Low | 1.37583 |
| 3rd Low | 1.35561 |
1.41401 – 1.39859 – 1.39582 – 1.38876 – 1.40051 – 1.39314 —
1.41237 – 1.40216 —
63.365925369275 – 30.667654920488 —
– —
1.41401 – 1762358400
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – – –