The pair Canadian Dollar to US Dollar USD/CAD completes the trading week near the level of 1.3061. The pair continues to move within the correction. At the moment, we should expect an attempt to test the support level near the 1.2935 area and continue the growth of quotations with the goal above the level of 1.3525.
USD/CAD weekly forecast & analysis November 5 — 9, 2018
A test of the rising trend line on the relative strength index (RSI), as well as the formation of the «Head and Shoulders» reversal pattern will be in favor of the USD/CAD pair. The cancellation of the growth option of the USD/CAD quotes in the current trading week of November 5 — 9, 2018 will be a fall and a breakdown of the 1.2750 area, which will indicate a breakdown of the lower border of the channel and the continuation of the fall to the area below the 1.2550 level. Confirmation of the growth of the pair will be the breakdown of the resistance area and the closure above 1.3235.
USD/CAD weekly forecast & analysis November 5 — 9, 2018 implies an attempt to test the support area near the level of 1.2935 and the beginning of growth with the target above the level of 1.3525, trends will fall and the breakdown of 1.2750 area, which will indicate a breakdown of the lower boundary of the channel and the continued decline in the pair.