Currency pair US Dollar Canadian Dollar USD/CAD continues to move as part of growth. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Canadian Dollar is 1.3175. At the moment, we should expect an attempt to grow and test the resistance level near the 1.3300 area. Further, the continuation of the fall of the currency pair on Forex. The potential target of the decline is the area below the level of 1.3145 as part of the formation of the bullish «Wolfe Wave» model.
USD/CAD forecast Canadian Dollar December 6, 2018
In favor of reducing the quotations of the Canadian Dollar will test a downward trend line on the indicator of relative strength index (RSI). As well as a rebound from the broken boundary of the ascending channel. Cancellation of the option of falling USD/CAD at FOREX will be a strong growth and a breakdown of the 1.3365 area. This will indicate a breakdown of the resistance level and continued growth of quotations in the area above the level of 1.3505. Expect the pair to accelerate falling with the breakdown of the support area and closing of the USD/CAD quotes below the level of 1.3255.
Among the important news from Canada, which may have an impact on the course of the pair USD/CAD, it is worth highlighting: Speech by the head of the Bank of Canada.
USD/CAD forecast Canadian Dollar December 6, 2018 involves an attempt to test the resistance area near the level of 1.3300. Further, the continuation of the fall in the area below the level of 1.3145. An additional signal in favor of reducing the pair on Forex will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall of the Canadian Dollar will be a strong growth and the breakdown level of 1.3365. This will indicate a continuation of the climb.
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