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FX.co ★ Trading forecast USD/CAD 18.12.2017

Trading forecast USD/CAD 18.12.2017

Last week, the formation of the medium-term accumulation zone continued. This allowed testing concurrently the two significant support and resistance zones. The pair did not go beyond the accumulation zone, which implies the continuation of work in the flat range.

Medium-term plan.

At the end of last week, the pair was tested a weekly control zone (NKZ) breakdown of 1.2912-1.2893, after which the supply increased. If the course will fail to overcome this level, the medium-term flat will continue to form and sell. It should be noted that there was a test last week in the lower weekly KZ 1.2711-1.2693. This further indicates the need for closing. When forming the reversal pattern on the lower timeframe, sales are necessary to return to the lower boundary of the medium-term flat.

Trading forecast USD/CAD 18.12.2017

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For the formation of an alternative bottom-up model, one of the immediate American sessions must be fixed above the level of 1.2912. This will open up opportunities for retaining purchases and opening up new ones with the prospect of 1-2% growth in current prices.

Intraday plan.

The weekly short-term short-term test 1.2912-1.2893 last weekend requires closing some part of purchases. The first support for the rate decline is NKZ 1/4 1.2848-1.2843. The formation of the reversal pattern on this zone will indicate the possibility of regular purchases. Within the daily average, there is an NKZ 1/2 of 1.2802-1.2794, which is the calculated support for the Friday's impulse. If the pair failed to gain a foothold, then this high level will be higher than 70%.

Trading forecast USD/CAD 18.12.2017

Daytime CP is the daytime control zone. The zone is formed by important data from the futures market, which change several times a year.

Weekly CP is the weekly control zone. The zone is formed by important futures market marks, which change several times a year.

Monthly CP is the monthly control zone. The zone is a reflection of the average volatility over the past year.

* The presented market analysis is informative and does not constitute a guide to the transaction.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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