The USDCAD broke and held above 1.3000 resistance
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 130 pips | Max. 1.3150
Min. 1.2910 |
The price broke round resistance of 1.3000, which indicates strengthening uptrend. Level 1.3000 is now acting as strong support.
Correction down into the 1.3000 support will most likely trigger consolidation, followed by the rebound up and continuation of the bullish trend.
Potential growth targets are situated at 1.3050, 1.3100, 1.3150 resistance levels.
Alternative scenario: the breaking of 1.2910 support will be a signal for the reversal down.
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 broke and held above 1.3000 resistance
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 130 pips | Max. 1.3150
Min. 1.2910 |
The price broke round resistance of 1.3000, which indicates strengthening uptrend. Level 1.3000 is now acting as strong support.
Correction down into the 1.3000 support will most likely trigger consolidation, followed by the rebound up and continuation of the bullish trend.
Potential growth targets are situated at 1.3050, 1.3100, 1.3150 resistance levels.
Alternative scenario: the breaking of 1.2910 support will be a signal for the reversal down.
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!