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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.

DateFebruary 1, 2020 - 20:25
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.33750, beginning of downtrend is expected.
  • We make sure when the support at 1.31150 breaks.
  • If the resistance at 1.33750 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1.2950 on 12/31/2019, so more gains to resistance(s) 1.3280 and maximum to Major Resistance (1.3375) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 66.

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. 1.2950
  10. 1.2815
  11. 1.2525
  12. 1.2250
  13. 1.2060
Click on the level to view price action history.

Symbol Released Current Forecast
US Dollar / Canadian Dollar (USDCAD) Sat, 23 Mar 2024
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US Dollar / Canadian Dollar (USDCAD) Sat, 2 Mar 2024
US Dollar / Canadian Dollar (USDCAD) Sun, 25 Feb 2024