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    Technical analysis for the USDCAD on 29.04.2015

    The USDCAD keeps trading to the downside

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 130 pips Max. 1.2100

    Min. 1.1900

    usdcad11

    Having breached strong support at 1.2140, bears kept pushing the pair down. Decline is taking place at low volumes which indicates weakening bearish strength.

    From the technical point, bearish trend is developing along the descending trend line of 1.2075, which provides direction for the price movement.

    As long as the trend line remains safe, the downtrend potential preserves. Decline targets are found at 1.2000, 1.1975.

    Alternative scenario: upside correction will commence if price breaks the descending trend line at 1.2075. The closest growth target will be situated at 1.2140.

    Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!

    The USDCAD keeps trading to the downside

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 130 pips Max. 1.2100

    Min. 1.1900

    usdcad11

    Having breached strong support at 1.2140, bears kept pushing the pair down. Decline is taking place at low volumes which indicates weakening bearish strength.

    From the technical point, bearish trend is developing along the descending trend line of 1.2075, which provides direction for the price movement.

    As long as the trend line remains safe, the downtrend potential preserves. Decline targets are found at 1.2000, 1.1975.

    Alternative scenario: upside correction will commence if price breaks the descending trend line at 1.2075. The closest growth target will be situated at 1.2140.

    Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!


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