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Will the Canadian dollar break the support and get a strong move down or it will get bounce on the support

Canadian Dollar Technical analysis

The Canadian dollar continues to gain, last week  fell sharply to a low of 1.3058, its lowest level since  Nov 17 ,any progress in U.S.-China trade would likely raise risk appetite and boost the Canadian Dollar .

On all my USD CAD posts  I was talked on the long-term moves and try to Draw conclusions for the future on this pair, we got the bounce and now my assumption & scenario is a bit  complicated and you need to be  ready for a lot of movements on the USD CAD if 1.2970 area will  not hold so the next target will be at 1.2830 area and even lower to 1.2630, 1.2500 ,break up again 1.33 will confirm more upside. -CAD trading pattern 

USD CAD forecast
USD CAD news

USD CAD technical analysis:
As long as the Canadian holds the support and will not break down the 1.2970 + area - the trend is positive and the expectation is to continue higher
On the other hand, a break of this area will send the Canadian to areas of 1.2830 1.2620 1.25, when a break of 1.2470-1.25 will lead the pair to the 1.21 area -same as happen in 2008

USD CAD price
USD CAD chart

USD CAD price analysis
USD CAD chart analysis

USD CAD map position  :
In the position chart, you can see that the picture currently shows a continuation of the down move - you must pay attention to it ,Because if that is so then the hint is here similar as occurred in 2017 !

USD CAD position chart
USD CAD position

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice

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