USD/CAD – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.363015 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance zone at 1.36298 should be noted.
Consider stop-loss settings accordingly.
Then a ‘Bullish Engulfing’ candle pattern is existing. The candles show ‘Bullish Engulfing’. 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 ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37142 |
| 2nd High | 1.37104 |
| Next High | 1.36298 |
| Current Price | 1.35957 |
| Next Low | 1.35499 |
| 2nd Low | 1.35418 |
| 3rd Low | 1.35252 |
1.36298 – 1.36191 – 1.37104 – 1.36039 – 1.35499 – 1.35971 —
1.36031 – 1.35957 —
41.744974002107 – 40.455702592614 —
– —
1.36298 – 1777968000
Trading Signals: FOREX – USD – USD/CAD – CAD – Bullish Engulfing – – – – – – – – –