The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2730. The pair continues to move within the descending channel. At this point, we should expect an attempt to test the upper border of the channel near the level of 1.2800 and continue falling with a target below 1.2250.
USD/CAD weekly forecast on December 25 — 29, 2017
In favor of continuing the fall of the pair will test the resistance line on the indicator of relative strength index (RSI). 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 25 — 29, 2017 assumes an attempt to test the upper border of the channel near 1.2800 and continue the fall with a target below 1.2250, an additional signal in favor of the drop will be a resistance line test on the relative strength indicator, 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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