USD/CAD – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will persist. Current target is 1.363205 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.37104 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Inverted Hammer’ candle chart pattern is found. The chart shows ‘Inverted Hammer’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Inverted Hammer’ going up is 65% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37378 |
| 2nd High | 1.37142 |
| Next High | 1.37104 |
| Current Price | 1.35897 |
| Next Low | 1.35499 |
| 2nd Low | 1.35418 |
| 3rd Low | 1.35252 |
1.37104 – 1.36913 – 1.37142 – 1.35499 – 1.35971 – 1.366 —
1.35878 – 1.35890 —
47.793415486839 – 49.046069506047 —
– —
1.37104 – 1777478400
Trading Signals: FOREX – USD – USD/CAD – CAD – Inverted Hammer – – – – – – – – –