The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.3089. The pair continues to move within the correction. At this point, we should expect an attempt to test the level of support near the area of 1.3030 and the continuation of the growth of quotations with a target above the level of 1.3565.
USD/CAD weekly forecast & analysis August 27 — 31, 2018
In favor of the growth of the pair USD/CAD will test the uptrend line on the indicator of relative strength index (RSI), as well as the formation of an inverted «Head and Shoulders» model on the price chart. The cancellation of the USD/CAD growth scenario on the current trading week on August 27 — 31, 2018 will be the fall and breakdown of the area of 1.2900, which will indicate the breakdown of the lower border of the channel and the continuation of the fall into the area below the level of 1.2500. Confirmation of the growth of the pair will break through the resistance area and the closure above the level of 1.3160.
USD/CAD weekly forecast & analysis August 27 — 31, 2018 suggests an attempt of testing the support area near the level of 1.3030 and the beginning of growth with a target above 1.3565, an additional signal in favor of growth will be a trend line test on the indicator of relative strength index (RSI).
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