USD/CAD – 1H – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) jumps from the descending trendline downwards
A continuation of the downtrend down to the next support line at 1.35039 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.36742 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Southern Doji’ candle chart pattern is found. The candles form ‘Southern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37525 |
| 2nd High | 1.3716 |
| Next High | 1.36742 |
| Current Price | 1.35372 |
| Next Low | 1.35039 |
| 2nd Low | 1.34929 |
| 3rd Low | 1.34812 |
1.36742 – 1.3716 – 1.37525 – 1.36151 – 1.36265 – 1.36529 —
1.35912 – 1.35781 —
32.581165859401 – 35.029309797435 —
– —
1.36742 – 1772812800
Trading Signals: FOREX – USD – USD/CAD – CAD – Southern Doji – – – – – – – – –