Currency pair US Dollar Canadian Dollar USD/CAD continues to move in the ascending channel. At the time of the publication of the forecast, the rate of the US Dollar to the Canadian Dollar is 1.3103. At the moment, we should expect an attempt to test the support level near the 1.3045 area and the continued growth of the currency pair. The potential target of growth is the area above the level of 1.3275.
USD/CAD forecast Canadian Dollar November 2, 2018
In favor of the growth of quotations of the Canadian Dollar will test the trend line on the indicator of relative strength index (RSI). Cancellation of the growth option for USD/CAD at Forex will be a fall and a breakdown of the 1.3005 area, which will indicate a breakdown of the support area and a continued decline in quotations to the area below the level of 1.2850. It is worth waiting for the confirmation of the pair growth with the breakdown of the resistance area and closing of the USD/CAD quotes above the level of 1.3185.
Among the important news from Canada, which may have an impact on the course of the pair USD/CAD, it is worth highlighting: The unemployment rate, the change in the number of employees.
USD/CAD forecast Canadian Dollar November 2, 2018 implies an attempt to test the support area near 1.3045 and continue to grow to the area above 1.3275, an additional signal in favor of the pair growth at Forex will be the support area test on the relative strength index (RSI), canceling the growth option Canadian Dollar will fall and the breakdown level of 1.3005, which will indicate a continued decline.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
