Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the correction and formation of the reversal pattern. At the moment, we should expect an attempt to test the region of the lower border of the «Triangle» model near the level of 1.2850 and continue the growth of the pair to the area above the level of 1.3020.
USD/CAD forecast & technical analysis April 4, 2018
In favor of the growth of quotations of the Canadian Dollar will perform a trend line test on the indicator of relative strength index (RSI). Cancellation of the USD/CAD growth option on Forex will be the fall and breakdown of the area of 1.2820, which will indicate the breakdown of the lower boundary of the «Triangle» model and the continuation of the fall into the area below 1.2750. Expect to confirm the growth of the pair is with the breakdown of the upper limit of the model «Triangle» and the closing of quotations above the level of 1.2950.
USD/CAD forecast & technical analysis April 4, 2018 suggests a test of the support level near 1.2850 and the continuation of growth to the area above 1.3020, an additional signal in favor of growth is the trend line test on the relative strength index (RSI), the cancellation of the Canadian Dollar growth option will be a breakdown the level of 1.2820.