Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the correction and bull canal. At the time of publication of the forecast, the US dollar rate to the Canadian dollar is 1.2439. The moving averages indicate the presence of a short bullish trend in a pair. Prices left from the area between the signal lines, which indicates pressure from buyers and the potential continuation of the growth of the price pair is in the near future. At the moment, it is worth expecting an attempt to develop a correction and test of the support level near the region of 1.2365. Next, rebound up and continue the lifting a currency pair for forex. The potential goal of such a movement of the tool is the area above level 1.2745.
USD/CAD Forecast Canadian Dollar November 9, 2021
An additional signal in favor of the lifting of the quotations of the Canadian dollar will be the test of the chast of the trend line on the relative force indicator. The second signal in favor of the rise will be rebound from the lower border of the bull-channel. The abolition of the growth option of the USD/CAD currency pair on Forex will be a drop and breakdown of the region 1.2305. This will indicate the support area and continue falling quotes to the area below level 1.2055. Expect confirmation of the lifting a pair stands with a breakdown of resistance areas and closing the USD/CAD pair quotes above level 1.2595, which will indicate on the test channel’s upper limit.
USD/CAD Forecast Canadian Dollar November 9, 2021 implies an attempt to test the area of support near the level of 1.2365. Further, continued growth in the region above level 1.2745. An additional signal in favor of the Lifting of the Canadian Dollar on Forex will perform a trend line test on the relative force indicator. Cancellation of the USD/CAD growth option will be a drop and breakdown of 1.2305. This will indicate to continue to reduce the cost of an asset with a potential goal below level 1.2055.
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