USDCAD Weekly Forex Forecast 22nd September To 29th September
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.2885 would begin in Midterm.
Technical analysis:
The RSI bounced from the resistance #1 at 61 and it prevented price from more gains.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 1.3225 on 09/06/2018, so more losses minimum to Major Support (1.2885) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 39.
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.2885 would begin in Midterm.
Technical analysis:
The RSI bounced from the resistance #1 at 61 and it prevented price from more gains.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 1.3225 on 09/06/2018, so more losses minimum to Major Support (1.2885) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 39.
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