Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the framework of an bullish correction. At this point, we should expect an attempt to rebound and continue the fall of the pair with a target at 1.2420, as part of the completion of the formation of the bullish wave model of Wolfe.
USD/CAD prediction & technical analysis on October 17, 2017
In favor of lowering the quotes of the Canadian Dollar, a resistance area test will be performed on the indicator of relative strength index (RSI). Canceling the USD/CAD decline on Forex will be a strong growth and breakdown of the area of 1.2650, which indicates that the pair continues to grow above the level of 1.2670.
Important news from Canada, which may affect the rate of the pair USD/CAD, is not expected, so the pair will continue to move in the technical analysis.
USD/CAD prediction & technical analysis on October 17, 2017 assumes a test of the 1.2420 level and the pair continues to grow above the level of 1.2650 as part of the development of the bull model of the Wolfe wave, the cancellation of the Canadian Dollar growth option will be a drop and breakdown at the level of 1.2390, in this case the continued decline of the pair.
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