The currency pair Canadian dollar against the US dollar USD CAD is testing the area close the upper boundary of the descending pattern Wolfe waves. at the moment we should expect the beginning of falling of pair of quotes in the region at a level below 1.2750 within the mining model.
USD CAD Forecast Canadian Dollar on August 31, 2016
An additional signal in favor of the fall is the test of the descending trend line on the indicator of relative strength. Also at smaller time intervals formed reversal forex head and shoulders pattern, which indicates the fall. Cancellation option of falling Canadian dollar quotations will be a strong growth of the pair USD CAD higher than 1.31.
USD CAD Forecast Canadian Dollar on August 31, 2016 to try presupposes falling USD CAD quotes at 1.2750 area on the level within the mining Forex Wolfe Wave pattern.
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