Currency pair US Dollar to Canadian Dollar USD/CAD is closing the trading week at 1.3507. 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 to Canadian Dollar. At the moment, quotes of the pair test the lower boundary of the Bollinger Bands indicator. It is worth to expect an attempt to fall quotes of the pair near the level 1.3480, where again we should expect an attempt to continue the growth and development of the bullish trend for US Dollar to Canadian Dollar USD/CAD with the first target near the level 1.3800.
USD/CAD forex forecast on May 22 — 26, 2017
The conservative buy area is located near the lower border of the Bollinger Bands indicator strip at 1.3510. The cancellation of the continuation of pair US Dollar to Canadian Dollar USD/CAD growth will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair’s quotes below the 1.3400 area, which indicates a change in the trend in favor of the bearish. In the event of a breakdown of the upper boundary of the Bollinger Bands, it is expected to accelerate the growth of the pair in the area above the level 1.3800.
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