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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.

DateMay 30, 2020 - 23:06
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.34400, resumption of uptrend is expected.
  • We make sure when the resistance at 1.38500 breaks.
  • If the support at 1.34400 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 1.4050 on 05/22/2020, so more losses to support(s) 1.3775, 1.3665, 1.3520 and minimum to Major Support (1.3440) 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 41.

Supports and Resistances:

  1. 1.4665
  2. 1.4525
  3. 1.4350
  4. 1.4170
  5. 1.3775
  6. 1.3520
  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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