USD/CAD Weekly Outlook - 11-year high as the next bullish target
12 August 2015, 15:11
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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 |
|---|---|
| 1.3102 | 1.2127 |
| 1.3213 | 1.1312 |
- 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.
