The currency pair Canadian dollar against the US dollar USD CAD continued its growth in line with expectations and is currently trading above the local maximum level. However, here we can expect the beginning of falling of quotations USD CAD as part of the descending pattern Wolfe waves.
Canadian Dollar Forecast on USD CAD July 26, 2016
An additional signal in favor of the fall is the test of the descending line of resistance on the relative strength indicator, which also suggests a drop in prices USD CAD is already with the current levels. Cancellation option will be the fall of the Canadian dollar strong growth of quotations couples and break of 1.3180 closing prices.
Canadian Dollar Forecast on USD CAD July 26, 2016 suggests an attempt to fall within the beginning of working out a bearish Wolfe wave model with the immediate goal to below 1.2980.
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