The currency pair USD/CAD US Dollar to Canadian Dollar continues to move within the upward trend and at the moment there is a potential for continuing the growth of quotations to the area above the level of 1.3750. In favor of the growth of quotations of the pair is a rebound from the ascending support line on the indicator of relative strength.
USD/CAD Forecast Canadian Dollar on May 10, 2017
In favor of growth is the formation of a bullish wave model of Woolf, so even with the breakdown of the lower channel boundary, the potential for growth remains. The cancellation of the USD/CAD quotation growth scenario will be the fall and breakdown of the 1.3550 area, which will indicate that the pair will continue to decline. An additional signal is the formation of an inverted forex model of the Head and shoulders on the indicator of relative strength.
Important news from Canada, which may have an impact on the USD/CAD, is not expected, so the pair will continue to move within the technical analysis of USD/CAD.
USD/CAD Forecast Canadian Dollar on May 10, 2017 suggests an attempt to test the lower-bound area and continue the pair’s growth to an area above 1.3750, the pair’s growth will be canceled and the breakdown of the 1.3550 area will indicate that the pair’s quotations continue to decline.
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