The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2754. The pair continues to move within the bearish channel. At this point, we should expect an attempt to test the upper border of the channel near the level of 1.2820 and continue falling with a target below the level of 1.2250. In favor of continuing the fall of the pair will test the resistance line on the indicator of relative strength index (RSI).
USD/CAD weekly forecast on December 18 — 22, 2017
The cancellation of the continuation of the USD/CAD decline in the current trading week will be strong growth and breakdown of the 1.30 area, which will indicate the continued growth of the Canadian Dollar and the cancellation of the bearish model «5-0».
USD/CAD weekly forecast on December 18 — 22, 2017 involves an attempt to test the upper border of the channel near 1.2820 and continue falling with a target below 1.2250, an additional signal in favor of the drop will be a resistance line test on the relative strength index (RSI), and the formation of a bearish model «5-0», the cancellation of the fall option will be a breakdown of the area of 1.30, which indicates the continued growth.
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