The currency pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2660. 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 model 5-0».
USD/CAD weekly forecast on August 7 — 11, 2017
In favor of the growth of USD/CAD quotes is the breakdown of the Wedge model on the indicator of relative strength index (RSI). 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.
Important news from Canada, which may have an impact on the Canadian Dollar against the US Dollar, is not expected, so the pair will continue to move in the technical analysis USD/CAD.
USD/CAD weekly forecast on August 7 — 11, 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 the area below the level of 1.24.
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