Currency Pair US Dollar to Canadian Dollar USD/CAD is closing the trading week at 1.3707. Quotations of the pair continue to trade above the moving average with a period of 55, which indicates the existence of a bullish trend for the pair US Dollar Canadian dollar. At the moment, the pair’s quotes are moving near the middle border of the Bollinger Bands indicator. It is worth to expect an attempt to drop the quotes of the pair near the level of 1.3560, where again we should expect an attempt to continue the growth and development of the bullish trend for USD/CAD with the first target near the level of 1.3920.
USD/CAD forecast for the week May 15 — 19, 2017
The conservative USD/CDA buy area is near the lower border of the Bollinger Bands indicator strip at 1.3370. The cancellation of the continuation of the currency pair USD/CAD growth will be a breakdown of the moving average area with a period of 55, as well as the lower border of the Bollinger Bands indicator bars and the closing of the pair’s quotes below the 1.3260 area, which indicates a change in the downtrend in favor of the bearish trend on the pair USD/CAD. In the event of a breakdown of the upper boundary of the indicator strip, it is expected to accelerate the growth of the pair in the area above the level of 1.3920.
