The currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the limits of the decline. At this point, we should expect an attempt to test the area of 1.2520, where we should expect a rebound and the growth of quotations above the level of 1.2750.
USD/CAD forecast & technical analysis on August 23, 2017
In favor of the rebound and growth of the pair’s quotes is the formation of a bullish Wolfe wave, as well as a test of the support line on the indicator of relative strength index (RSI). Cancellation of the USD/CAD growth option on Forex will be the breakdown of the area of 1.2470, which will indicate the continuation of the pair’s decline to 1.2400 area and the cancellation of the bullish Wolfe wave. 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 23, 2017 involves a rebound attempt from the 1.2520 level and the beginning of growth with a potential target near the area of 1.2750, as part of the development of the bull model of the Wolfe wave, an additional signal is the trend line test on the relative strength indicator (RSI).
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