The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.3101. The pair continues to move in the framework of the reduction and start of the development of the Wolff Wave model. At the moment, we should expect a test of resistance near the level of 1.3250 and the beginning of the fall of quotations with a target below the level of 1.2720 as part of the beginning of the development of the bearish model.
USD/CAD weekly forecast July 9 — 13, 2018
In favor of the fall of the pair USD/CAD will test the trend line on the indicator of relative strength index (RSI). The cancellation of the USD/CAD falling in the current trading week will be a strong growth and breakdown of the 1.3550 area, which will indicate the breakdown of the resistance area and the continuation of the pair’s growth to the area above the level of 1.3750. Confirmation of the pair’s decline will be the breakdown of the support area and the closure below the level of 1.3050.
USD/CAD weekly forecast July 9 — 13, 2018 suggests a test of the resistance area near the level of 1.3250 and the beginning of the fall with a target below the level of 1.2720, an additional signal in favor of the decline will be a trend line test on the indicator of relative strength index (RSI).