The currency pair US Dollar to Canadian Dollar USD/CAD is trading at 1.3719. 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 upper boundary of the bands of the indicator Bollinger Bands. It is expected to test the average border of the indicator bars near the level of 1.3660, where again we should expect an attempt to continue growth with the first target near the level of 1.3800.
Bollinger Bands USD/CAD Forecast on May 4, 2017
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 1.3620. Canceling the option of continuing the growth of the USD/CAD pair will be a breakdown of the lower border area of the indicator bands, as well as a moving average with a period of 55 and the closing of the pair’s quotes below 1.3540 area, which indicates 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 to an area above the level of 1.3800.
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