Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the growth framework. At this point, we should expect an attempt to test the support level near the area of 1.2440 and continue the growth of the pair in the area above the level of 1.2675. In favor of the growth of the Canadian Dollar quotations, a test of the support line on the indicator of relative strength index (RSI) will perform, as well as the formation of the bullish model «Wolfe Wave».
USD/CAD forecast & technical analysis February 20, 2018
The cancellation of the USD/CAD growth option on FOREX will be the fall and breakdown of the area of 1.2390, which will indicate the breakdown of the support level and the continuation of the fall into the area below 1.2240. To expect confirmation of the growth of the pair is with the breakdown of the upper boundary of the descending channel and the closing of quotations above the area of 1.2580.
USD/CAD forecast & technical analysis February 20, 2018 involves trying to test the support level near 1.2440 and continuing growth to the level above 1.2675, an additional signal in favor of growth will test the support line on the indicator of relative strength index (RSI), the cancellation of the Canadian Dollar growth option will be a breakdown the level of 1.2390.
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