USD CAD forecast for the week 22 August — 26 August, 2016


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The currency pair Canadian dollar against the US dollar USD CAD showed a serious decline in this trading week, due to the strong rise in oil prices. However, at this point quotations pair USD CAD enjoy the support of the lower boundary of the rising channel, which indicates a potential rebound and growth in the region set out above the level of 1.32 on the next trading week.

USD CAD forecast for the week 22 August — 26 August, 2016

USD CAD forecast for the week 22 August — 26 August, 2016

If the pair can break through the lower boundary of the area, in this case, we can expect the formation of overstatement bullish wave pattern Wolfe with a potential target growth above the level of 1.33, but first it is important to see the test level of 1.23.

USD CAD forecast for the week 22 August — 26 August, 2016 implies an attempt to rebound from the bottom of the channel, and the growth of quotations in the region of 1.32, in the case of breakdown we can expect a strong drop in the region of 1.23.

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