Forecast for USD/CAD on August 25, 2020

USD/CAD

The USD/CAD pair moves up from the price channel from its lower border on the daily chart. This reversal is confirmed by the extended convergence on the Marlin oscillator. The price is practically at the bottom of a five-month downward trend. It needs additional help and time to increase the price, at least from the technical side, for example, the Marlin oscillator – its transition to the zone of positive values will mean a shift in the market trend towards purchases. The growth target is the MACD line and the price channel line around 1.3380.

analytics5f44839c4a4a4.jpg

The price consolidated above both indicator lines on the four-hour chart - balance and MACD. Marlin in the growth zone. We are waiting for the development of an upward trend.

analytics5f44839f595d2.jpg

The material has been provided by InstaForex Company - www.instaforex.com