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Technical analysis for the USDCAD on 20.05.2015

The USDCAD has breached strong resistance at 1.2180

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 150 pips Max. 1.2390

Min. 1.2180

usdcad6

Downtrend in the Canadian dollar has turned up after the price breached resistance at 1.2180, which had been holding back the bulls for four weeks.

Level 1.2180 is currently acting as a strong support. Correction down towards this barrier will most likely trigger continuation of the bullish trend.

Potential growth target is situated at the intraday resistance of 1.2390.

Alternative scenario: short-term consolidation above 1.2180 support is probable.

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 has breached strong resistance at 1.2180

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 150 pips Max. 1.2390

Min. 1.2180

usdcad6

Downtrend in the Canadian dollar has turned up after the price breached resistance at 1.2180, which had been holding back the bulls for four weeks.

Level 1.2180 is currently acting as a strong support. Correction down towards this barrier will most likely trigger continuation of the bullish trend.

Potential growth target is situated at the intraday resistance of 1.2390.

Alternative scenario: short-term consolidation above 1.2180 support is probable.

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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