Currency pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2725. At the moment, we should expect the pair to continue growing above the level of 1.29 as part of the completion of the formation of the bearish pattern 5-0.
USD/CAD weekly forecast on August 14 — 18, 2017
Near the upper boundary of the channel, we expect a rebound and a drop in quotations to the area below the level of 1.24. The cancellation of the growth option may come in the form of a fall and breakdown of the area of 1.2450, which indicates that the pair’s quotes continue to decline.
Among the important news from Canada in the next trading week, which can have an impact on the USD/CAD rate is worth highlighting: the Consumer Price Index, the Basic Consumer Price Index.
USD/CAD weekly forecast on August 14 — 18, 2017 suggests an attempt to continue correction in the area above the level of 1.29, where again we should expect a rebound and a fall in the pair’s quotations to below the level of 1.24 as part of the start-up of the bearish model 5-0.
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