The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2812. The pair continues to move within the framework of the bullish correction. At the moment, we should expect an attempt to grow into the area above the level of 1.2950 as part of the completion of the formation of the bearish model «5-0».
USD/CAD weekly forecast on November 20 — 24, 2017
Near the level of the upper boundary of the channel, we again expect a rebound and attempt to fall below the level of 1.23. In favor of continuing the fall of the pair, the formation of the reversal pattern «Head and Shoulders» will appear 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 1.3160, which will indicate the continued growth of the Canadian Dollar and the cancellation of the bearish model.
USD/CAD weekly forecast on November 20 — 24, 2017 involves an attempt to test the level of the upper border of the channel near 1.2950 and continue falling below 1.23, an additional signal in favor of the decline is the formation of the bearish model «5-0», the abolition of the fall option will be the breakdown of the region 1.3160 , which indicates the continued growth.
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