The currency pair Canadian Dollar to the US Dollar USD/CAD pair closed the trading week at 1.3652. It is worth waiting for an attempt to correct the quotations of the pair in the area of the broken border of the Forex model of the Triangle.
USD/CAD Forecast Canadian Dollar May 1 — 5, 2017
In favor of the fall is the test of the upper boundary of the Wolfe Wave model, as well as the resistance line test on the relative strength indicator. In the vicinity of 1.35 we should expect the USD/CAD pair to continue growing above 1.38. The cancellation of the pair’s growth option will result in a fall and breakdown of the 1.3350 area, which indicates that the decline will continue to fall below 1.31.
Among the important news from Canada in the next trading week, which can affect the rate of the USD CAD currency pair is worth highlighting, Unemployment rate, Change in the number of employees on May 5, 2017.
USD/CAD Forecast Canadian Dollar May 1 — 5, 2017 involves an attempt to fall below 1.35 within the rebound from the resistance area, where it is worth waiting for the pair to continue growing above 1.38.
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