Monday, August 5, 2019

Forecast from company ForexMart

The forecast from the company ForexMart (ForeksMart)

Forecast USD / CAD on January 25

Monetary instrument USD / CAD throughout the day continued to move within the Forex "bullish" 1: 1 model. The purpose of the pair of quotes growth performed while the region above 1.34. Soon, however, the pair managed to make a breakdown of the rising channel's lower border, and showed a sharp drop in prices from 1.3265 to 1.3163. Further to reduce the area below 1.31.

An alternative version of events on a pair of US / Canadian dollar pair may return within the ascending channel. Relative Strength Indicator confirms the first version of events, showing a rising trend line breakout and field support.


Forecast USD / RUB on January 25

The ruble against the dollar gradually increasing. Increased demand for the Russian currency was formed by the peak of the tax period in Russia. Brent crude oil price is above $ 55 per barrel. However, the ruble is not particularly responsive to strengthen the growth of the oil, because the probability of currency intervention. Energy Minister Alexander Novak said in his report on the conditions of the Vienna OPEC agreement. The overall reduction in oil production is about 1.7 Mill. Bpd.

Ruble rate again tears to previously established maximums, but its downward movement is restrained until the resistance level 59 rubles. The RSI shows an attempt to break the "triangle" figure, which suggests a possible strengthening of the Russian currency. The forecast for tomorrow involves movement of the pair USD / RUB in sideways near the lows. Break of the resistance level of 59 will open the way to lower prices in the region of 58 rubles per dollar.





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