The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2905. The pair continues to move within the bullish channel. At the moment, we should expect an attempt to test the lower bound of the «Triangle» model near the area of 1.2820 and continue the growth of quotations for a target above the level of 1.3450.
USD/CAD weekly forecast May 28 — June 1, 2018
In favor of the growth of the pair USD/CAD will test the upward trend line on the indicator of relative strength index (RSI). Canceling the option of continuing the growth of USD/CAD quotes in the current trading week will be the fall and breakdown of the area of 1.2680, which will indicate the breakdown of the lower boundary of the «Triangle» model and the continuation of the fall below 1.2250. Confirmation of the growth of the pair will be the breakdown of the resistance area and the closure above the level of 1.3000.
USD/CAD weekly forecast May 28 — June 1, 2018 involves testing the support area near the level of 1.2820 and continuing growth with a target above 1.3450, an additional signal in favor of growth will be a trend line test on the indicator of relative strength index (RSI), there will be a breakdown of the area of 1.2680, which indicates the breakdown of the lower boundary of the «Triangle» model and the continuation of the fall of the pair.
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