USD/CAD – 30M – BUYThe pair US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline up.
The bullish trend up to the next resistance line at 1.38765 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 1.38545 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Northern Doji’ candlestick chart pattern is found. The candles form ‘Northern Doji’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.3952 |
| 2nd High | 1.38879 |
| Next High | 1.38765 |
| Current Price | 1.38733 |
| Next Low | 1.38545 |
| 2nd Low | 1.38504 |
| 3rd Low | 1.37899 |
1.38765 – 1.38879 – 1.38266 – 1.38545 – 1.38504 – 1.37899 —
1.38625 – 1.38725 —
46.091351605818 – 54.028749478999 —
1.38545 – 1767915000 —
1.38765 – 1767904200
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – – – – – – – –