The currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the framework of the formation of the bull model of the Wolfe wave. The target of working out this model is the area at the level of 1.2770. In favor of the growth of quotations will perform a test of the support line on the indicator of relative strength index (RSI).
USD/CAD forecast & technical analysis on August 24, 2017
At the moment, we should expect an attempt to test the area of 1.2540, from which we should expect a rebound and the growth of quotations. Cancellation of the USD/CAD growth option on Forex will be a breakdown of the area of 1.2450, which will indicate the continuation of the pair’s decline to 1.2400 area and the cancellation of the bullish wave model of Wolfe. Expect to accelerate the growth of the pair is with the breakdown of the area of 1.2600.
Important news from Canada is not expected, so the pair will continue to move in the technical analysis USD/CAD.
USD/CAD forecast & technical analysis on August 24, 2017 assumes a rebound attempt from the level of 1.2540 and the beginning of growth with a potential target near the area of 1.2750, an additional signal will test the support line on the indicator of relative strength index (RSI).
