USD/CAD to reach 1.0232 in 5 days

by Admin

USD/CAD has been rising steadily in accordance with the following trade opportunity alert that I received for this pair. The pair is expected to reach the target level 1.0232 in the following 5 days – as a consequence of the prior breakout of the Triangle chart pattern identified by Autochartist on the daily charts. The pair is currently trading above the previous resistance level 1.0100, which reversed the pair sharply down in the end of January. The daily close above this resistance level should accelerate the price movement in the direction of the target level 1.0232 in the following 5 trading days. The presence of the upward sloping moving average increases the chances that this bullish forecast will soon be realized.

USDCAD

The daily USD/CAD chart below displays the longer-term picture of this pair’s movement:

USDCAD