USDCAD Weekly Forex Forecast 30 September to 6th October
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:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 1.3080 on 09/27/2018, 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 41.
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:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 1.3080 on 09/27/2018, 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 41.
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