Bullish view on the currency pair USD / CAD remains in force …
Drawing attention to the 4-hour chart can be seen that the American session on Thursday in a given currency pair is dominated by bullish sentiment …
Now look at the indicators:
rate is sandwiched between the moving average 144 with a period (1.26125 resistance level) on the one hand and medium with periods 55, 89 and 34 (number of levels of support 1.25675, 1.2550 and 1.2515) on the other.
Histogram MACD crossed the zero line upwards, is now located in the positive area and above its signal line, continues to rise gradually and thus delivers a signal to buy USD / CAD.
Stochastic oscillator is overbought and generates the same signal as the% K rises above the% D.
Therefore, we expect that the growth of USD / CAD will continue, and potential targets bulls are located on 1.2660 and 1.2700.
Perhaps a more distant goal – 1.2745.
Forex traders remind that today at 15:30 MSK. They will be published important data on the labor market in Canada, which could have a significant impact on the further developments in this currency pair.
Levels of resistance: 1.26125 / 15, 1.2660, 1.2700, 1.2745, 1.27975, 1.2835 (lokalnyymax)
Current price: 1.2595
Support levels: 1.2575, 1.25675, 1.2550, 1.25425, 1.2520 / 15, 1.2490, 1.24475,1.2410, 1.2385 (local min)
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