USDCAD Monthly Forex Forecast for August 2018

USDCAD Monthly Forex Forecast for August 2018

USDCAD Monthly Forex Forecast for August 2018

USDCAD Monthly Forex Forecast for August 2018

As long as the Canadian dollar, trades above the big psychological number 1.3000 the bulls remain in control. However, we can’t rule out a short-lived sell off all the way down until we retest the support level 1.2920 from where we should expect the bulls to show up again. Only a daily break and close below 1.2920 will signal that a significant swing high was put in place at the level 1.3380.

On the upside the first level of interest comes at pivot point 1.3125 followed by 1.3380 which can open up the door for a retest of the big round number 1.3500 if we managed to get a daily close above it. The stochastic indicator is coming close to reach oversold readings so a bounce might be in the short horizon. The Canadian economic calendar doesn’t have much to offer in terms of risk events as there are no big shifts in the BOC’s monetary policy.

Previous USDJPY Monthly and Weekly Forex Forecast

USDCAD Monthly Forex Forecast for August 2018


Claim Your $60 No Deposit Bonus Here

All you need is to have your live account verified!
Of course, you need to open a live account...

2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!

Broker #1

Broker #2

We use both of these brokers and proudly promote them!

NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.

Other Analysis Today
Learn and SHARE the Knowledge!
Click Here to Leave a Comment Below 0 comments
Do NOT follow this link or you will be banned from the site!

The AllPips Trend Indicator

Trading is simple when the Trend is Your Friend.
Enter Your Details Below to Download FREE Now.

envelope-o
long-arrow-down