USD/CAD Weekly Outlook - 11-year high as the next bullish target

USD/CAD Weekly Outlook - 11-year high as the next bullish target

12 August 2015, 15:11
Sergey Golubev
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Weekly price is on bullish market condition with above of 100-period SMA (100-SMA) and 200-period SMA (200-SMA):

  • the price is on primary bullish condition - price is crossing 1.3102 resistance level for 1.3213 as the bext bullish target;
  • ascending triangle pattern is fomed with .3102 resistance level;
  • Nearest support levels are 1.2127 and 1.1312;
  • Nearest resistance levels are 1.3102 and 1.3213.

Resistance
Support
1.31021.2127
1.32131.1312
  • if the price breaks 1.3102 resistance on close weekly bar so the bullish trend will be continuing with the secondary ranging up to 1.3213 as the next target;
  • if weekly price breaks 1.3213 resistance so we may see good breakout of the price movement;
  • if not so the price will be range within the levels.


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