The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2768. The pair continues to move within the framework of the bullish correction. At the moment, we should expect an attempt to grow into the area above the level of 1.30 as part of the completion of the formation of the bearish model «5-0».
USD/CAD weekly forecast on November 6 — 10, 2017
Near the level of the upper boundary of the channel, we again expect a rebound and attempt to fall below the level of 1.25. In favor of the growth of the pair is the test of the support line on the indicator of relative strength. The abolition of the continuation of the USD/CAD decline in the current trading week will be strong growth and breakdown of the 1.3150 area, which will indicate the continued growth of the Canadian Dollar.
Important news from Canada, which may have an impact on the Canadian Dollar, is not expected, so the pair will continue to move in the technical analysis.
USD/CAD weekly forecast on November 6 — 10, 2017 involves trying to test the level of the upper border of the channel near 1.30 and continuing the fall below 1.25, an additional signal in favor of the decline is the formation of the bearish model «5-0», the abolition of the fall option will be a breakdown of 1.32 area, which indicates the continued growth.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
