The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2830. At the moment, we should expect an attempt of a resistance level near the 1.3040 area and the continuation of the fall of quotations with a target below the level of 1.2440, as part of the start-up of the bearish model of the «Wolfe Wave».
USD/CAD weekly forecast on March 12 — 16, 2018
In favor of the fall of the pair, a trend line test will be performed on the indicator of relative strength index (RSI). The abolition of the continuation of the USD/CAD decline in the current trading week will be strong growth and breakdown of the 1.3350 area, which will indicate the breakdown of the resistance area and the continuation of growth.
USD/CAD weekly forecast on March 12 — 16, 2018 involves an attempt to test the upper limit of the bearish model «Wolfe Wave» near 1.3040 and continue falling with a target below 1.2440, an additional signal in favor of the fall will be a trend test on the indicator of relative index (RSI), variant of the fall will be the breakdown of the region of 1.3350, which will indicate the breakdown of resistance and the continued growth of the pair.
