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 reversal model «Double Top».
USD/CAD prediction & technical analysis on October 19, 2017
In favor of lowering the quotes of the Canadian Dollar, a resistance line test will be performed on the indicator of relative strength. Cancellation of the USD/CAD decline on Forex will be strong growth and breakdown of the area of 1.2650, which will indicate that the pair continues to grow above the level of 1.2750.
USD/CAD prediction & technical analysis on October 19, 2017 involves an attempt to test the resistance level and continue falling below the level 1.2420 within the beginning of the development of the reversal pattern, the cancellation of the Canadian Dollar fall option will be strong growth and breakdown at 1.2650 level, in this should expect the continuation of the pair’s growth.