The currency pair US Dollar to Canadian dollar USD/CAD is trading at 1.3410. Quotes of the pair are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for the pair US Dollar Canadian dollar. At the moment, quotes of the pair test the average border of the bars of the indicator Bollinger Bands. It is worth to expect an attempt to fall and test the moving average with a period of 55 near the level of 1.3390, where again we should expect an attempt to continue growth with the first goal near the level of 1.3500.
Bollinger Bands USD/CAD Forecast on April 7, 2017
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 1.3370. Canceling the option of continuing the growth of the pair USD/CAD will be the breakdown of the lower border area, as well as the moving average and the closing of the pair’s quotes below the area of 1.3340, which will indicate a change in the trend in favor of the bearish pair USD US Dollar. In the event of a breakdown of the upper boundary of the indicator strip, it is expected to accelerate the growth of the pair in the area above the level of 1.3500.
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