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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.

DateMarch 22, 2020 - 17:46
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 1.37750 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • While the RSI support #1 at 52 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 1.4665 on 03/19/2020, so more losses to support(s) 1.4200, 1.3995 and minimum to Major Support (1.3775) 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 76.

Supports and Resistances:

  1. 1.4665
  2. 1.4200
  3. 1.3775
  4. 1.3520
  5. 1.3115
  6. 1.3040
  7. 1.2950
  8. 1.2815
  9. 1.2525
  10. 1.2250
  11. 1.2060
Click on the level to view price action history.

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