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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateJanuary 11, 2020 - 19:21
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.31800 would begin in Midterm.

Technical analysis:

  • A trough is formed in daily chart at 1.2950 on 12/31/2019, so more gains to resistance(s) 1.3115 and maximum to Major Resistance (1.3180) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 43.

Supports and Resistances:

  1. 1.4690
  2. 1.4200
  3. 1.3795
  4. 1.3565
  5. 1.3440
  6. 1.3280
  7. 1.3115
  8. 1.3040
  9. 1.2925
  10. 1.2815
  11. 1.2525
  12. 1.2250
  13. 1.2060
Click on the level to view price action history.

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