The pair Canadian Dollar to US Dollar USD/CAD completes the trading week near the level of 1.2920. The pair continues to move within the bullish channel. At the moment, we should expect an attempt to test the support level near the 1.2790 area and continue the growth of quotations with a target above the level of 1.3500.
USD/CAD weekly forecast & analysis October 8 — 12, 2018
A test of the rising trend line on the relative strength index (RSI), as well as a rebound from the lower boundary of the bullish channel, will be in favor of the growth of the USD/CAD pair. Cancellation of the growth option of the USD/CAD quotes in the current trading week of October 8 — 12, 2018 will be a strong fall and a breakdown of the 1.2700 area, which will indicate a breakdown of the lower boundary 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 upper boundary of the downward channel and closing above the level of 1.3095.
USD/CAD weekly forecast & analysis October 8 — 12, 2018 implies an attempt to test the support area near the level of 1.2790 and the beginning of growth with a target above the level of 1.3500. trends will fall and the breakdown of the area of 1.2700, which will indicate a breakdown of the lower boundary of the channel and the continuation of the pair decline.