USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) goes from the ascending trendline down.
A bearish movement downwards to the next support line at 1.37448 will persist.
Caution: A possible trend reversal in the direction of resistance at 1.3815 should be noted.
Consider stop-loss settings accordingly.
And also a ‘Northern Doji’ candle pattern is found. The candles form ‘Northern Doji’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38717 |
| 2nd High | 1.38225 |
| Next High | 1.3815 |
| Current Price | 1.37640 |
| Next Low | 1.37448 |
| 2nd Low | 1.37 |
| 3rd Low | 1.3688 |
1.3815 – 1.37475 – 1.37277 – 1.37448 – 1.37 – 1.37042 —
1.37696 – 1.37760 —
53.371921089014 – 54.186393747999 —
– —
1.38150 – 1767627000
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – – – – – – – –