USD/CAD – 30M – BUYThe currency pair US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline up.
The bullish trend up to the next resistance at 1.3977 is certain.
Caution: A possible reversal of the trend in the direction of the support zone at 1.39251 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Northern Doji’ candle pattern is discovered. The candles form ‘Northern Doji’. which is a bullish pattern signal. 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 | 1.40495 |
| 2nd High | 1.40142 |
| Next High | 1.3977 |
| Current Price | 1.39575 |
| Next Low | 1.39251 |
| 2nd Low | 1.38876 |
| 3rd Low | 1.3885 |
1.3977 – 1.39691 – 1.40142 – 1.39251 – 1.39571 – 1.39403 —
1.39454 – 1.39555 —
39.699688775462 – 48.071591461542 —
– —
1.39770 – 1764860400
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – – – – – – – –