The currency pair Canadian Dollar to US dollar USD/CAD showed an increase in the framework of working out bovine model 5-0, as we wrote in the last forecast of the Canadian dollar on the week.
USD CAD Forecast June 27, 2016 — July 1, 2016
At the moment there is a potential for continued growth. After the price breaks the upper boundary of the triangle model is expected to accelerate the current trend with the potential target at a level above 1.35. Cancellation option could be a drop in prices USD CAD model and return inside the triangle, in this case the risk of the pair of quotes fall to below 1.27. An additional signal in favor of the USD CAD growth in the next trading week in favor formation of a head and shoulders pattern on the indicator of relative strength, it also points to the potential growth rate usd/cad.
USD CAD Forecast June 27, 2016 — July 1, 2016 suggests an attempt to continue its growth within the mining forex triangle patterns with a view above the level of 1.35.
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