The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.3066. At the moment, we should expect an attempt of a resistance level near the 1.3150 area and the continuation of the fall of quotations with a target below the level of 1.2450, as part of the start-up of the bearish model of the «Wolfe Wave».
USD/CAD weekly forecast on March 19 — 23, 2018
In favor of the fall of the pair, a down trend line test will perform on the relative strength index (RSI). The abolition of the continuation of the USD/CAD decline in the current trading week will be a strong growth and breakdown of the 1.3370 area, which will indicate the breakdown of the resistance area and the continuation of growth.
USD/CAD weekly forecast on March 19 — 23, 2018 involves an attempt to test the upper limit of the bearish model «Wolfe Wave» near 1.3150 and continue falling with a target below 1.2450, an additional signal in favor of the fall will test the trend line on the indicator of relative strength index (RSI), the cancellation of the fall option will be a breakdown of the area of 1.3350, which will indicate a breakdown of resistance and the continuation of the pair’s growth.
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