This week, currency pair USD/CAD continues to fall, but now it formed the bullish inverted head and shoulders pattern on the indicator of relative strength, which can trigger the growth of Canadian quotations at the beginning of next week, March 21 – 25, 2016. Here, on the price chart USD/CAD, we can see the support area test, which also points to a potential rebound of the Canadian dollar to 1.3450 area. Cancellation option for Canadian growth next week may be a drop below 1.2750. It is also now possible to speak about a failure swing model, which indicates the penetration of 1.3350 level.
USD/CAD technical analysis and forecast for 03/21/2016 – 03/25/2016 week
Thus, FOREX forecast USD/CAD on 21.03.2016 – 25.03.2016 suggests an attempt to increase within the working out of reversal patterns on the indicator of relative strength.
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