Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the growth framework. At this point, we should expect an attempt to test the level of 1.2840 and the beginning of the fall in the area below the level of 1.2590 within the framework of the formation of the bullish «Wolfe Wave» model. In favor of falling quotations of the Canadian Dollar will perform a test of the resistance line on the indicator of relative strength index (RSI).
USD/CAD forecast & technical analysis on December 8, 2017
The cancellation of the USD/CAD fall on the Forex market will be strong growth and breakdown of the area of 1.2910, which will indicate the continued growth of the pair. Expect the acceleration of the fall is with the breakdown of the level of 1.2740.
USD/CAD forecast & technical analysis on December 8, 2017 assumes a test of the level of 1.2840 and the beginning of the fall into the area below the level of 1.2590, an additional signal in favor of the drop will be a resistance line test on the relative strength index (RSI), the cancellation of the Canadian Dollar fall will be a breakdown at the level of 1.2910.