Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the framework of correction and formation of the «Triangle» model. At this point, we should expect a test of the support level test near the area of 1.2840 and the continuation of the pair’s growth in the area above the level of 1.3020.
USD/CAD forecast & technical analysis May 8, 2018
In favor of the growth of quotations of the Canadian Dollar will perform a test of the support line on the indicator of relative strength index (RSI). Cancellation of the USD/CAD growth option on Forex will be the fall and breakdown of the area of 1.2780, which will indicate the breakdown of the lower boundary of the «Triangle» model and the continuation of the fall of quotations in the area below the level of 1.2680. To expect confirmation of the growth of the pair is with the breakdown of the resistance area and the closing of the USD/CAD pair quotations above the level of 1.2905.
USD/CAD forecast & technical analysis May 8, 2018 estimated test of support area attempt to near the level of 1.2840 and continued growth in the region above the level of 1.3020, an additional signal in favor of growth will make the test trend line on the indicator of relative strength index (RSI), the cancellation of options increase the Canadian Dollar will breakdown at the level of 1.2780.
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