Currency pair US Dollar Canadian Dollar USD/CAD continues to move in the framework of the correction. At the time of the publication of the forecast, the rate of the US Dollar to the Canadian Dollar is 1.3144. At the moment, we should expect an attempt to test the resistance level near the 1.3205 area. Further, the continuation of the decline in the currency pair on Forex. The potential target of the fall is the area below the level of 1.3015.
USD/CAD forecast Canadian Dollar November 20, 2018
A test of the trend line on the relative strength index (RSI) will be in favor of reducing the Canadian Dollar quotes. Cancellation of the option of falling USD/CAD at Forex will be a strong growth and the breakdown of the area of 1.3270. This will indicate a breakdown of the resistance area and continued growth of quotations in the area above the level of 1.3400. Waiting for confirmation of the pair’s decline is with the breakdown of the lower boundary of the bullish channel and closing of the USD/CAD quotes below the level of 1.3105.
USD/CAD forecast Canadian Dollar November 20, 2018 involves an attempt to test the resistance area near the level of 1.3205. Further, the continuation of the fall in the area below the level of 1.3015. An additional signal in favor of the pair falling on Forex will be a test of a broken trend line on the relative strength index (RSI). Cancellation of the Canadian Dollar decline option will be a strong growth and the breakdown of the level of 1.3270. What will indicate continued growth.
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