USDCAD 27 04 2021
As I said in my previous forecast, after a false breakout of a strong resistance line at 1.253, the price fell and returned to a downtrend. Let me remind you that it has been following this trend since April 2020 and the main trend line is the resistance line formed at the same time. The breakdown of the line was stopped by an additional resistance line in December 20202, the price reversed from point 1265 and returned to the trend. Now, I expect the price to fall as the first to the lower trend line - the March 2019 support line and touch it at the point 1.235. After that, a new growth will begin. Thus, my final target is the resistance line at 1.248.
As I said in my previous forecast, after a false breakout of a strong resistance line at 1.253, the price fell and returned to a downtrend. Let me remind you that it has been following this trend since April 2020 and the main trend line is the resistance line formed at the same time. The breakdown of the line was stopped by an additional resistance line in December 20202, the price reversed from point 1265 and returned to the trend. Now, I expect the price to fall as the first to the lower trend line - the March 2019 support line and touch it at the point 1.235. After that, a new growth will begin. Thus, my final target is the resistance line at 1.248.