The currency pair is the Canadian dollar to the US dollar USD CAD has completed the trading week at 1.3345. The pair has gone into the development of correction and there are risks of seeing a tight test of the 1.3150 area as part of the formation of an inverted forex head and shoulders model that will indicate the continued growth of the pair with a target above area 1.38.
USD/CAD Forecast on March 20, 2017 — March 24, 2017
In favor of the rebound pair will perform a test of the support line on the indicator of relative strength. The abolition of the continuation of growth will be a fall and breakdown of the 1.30 area, which will indicate the completion of the upward trend and the continuation of the fall. In the event of a breakdown in the area of 1.36, one should expect an acceleration in the growth of quotations of the Canadian dollar.
Among the important news from Canada in the next trading week that can influence the USD CAD currency pair rate is worth highlighting, the Consumer Price Index, the Basic Consumer Price Index on March 24, 2017.
USD/CAD Forecast on March 20, 2017 — March 24, 2017 involves an attempt at correction in the 1.3150 area as part of the completion of the formation of the inverted Head and Shoulders model, indicating that the pair will continue to grow above 1.38.
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