The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2709. The pair continues to move within the bearish channel. At the moment, we should expect an attempt to grow into the area above the level of 1.2780 and continue the decline with a target below 1.2420.
USD/CAD weekly forecast on on December 4 — 8, 2017
In favor of continuing the fall of the pair is the formation of the reversal model «Failure Swing» 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 region of 1.3060, which will indicate the continued growth of the Canadian Dollar and the cancellation of the bearish model.
USD/CAD weekly forecast on on December 4 — 8, 2017 involves an attempt to test the level of 1.2780 and continue falling below 1.2420, an additional signal in favor of the decline is the formation of the bearish model «5-0», the abolition of the fall version will be the breakdown of the area 1.3060, which will indicate on the continuation of growth.