29.01.201814:20 Forex Analysis & Reviews: Trade forecast USD/CAD pair 29.01.2018

The pair is in the phase of a downward medium-term pulse formation. The next target in the form of a weekly short-term shortage 1.2307-1.2287 was achieved, which led to an increase in demand. The upward movement is still corrective.

Medium-term plan.

The weekly test KZ of 1.2307-1.2287 completed the next phase of the downward movement. The growth of the pair has been corrective so far, which will allow obtaining favorable prices for the sale in the case of testing one of the nearest control zones. At this stage, the probability of forming a medium-term flat increased. the upper limit of which will be a weekly short-term fault of 1.2501-1.2480. In order for this model to develop, it will be necessary to implement a reversal model on the younger timeframe in the coming days.

For those who hold sales counting on a campaign to a month-long KZ January, it is necessary to transfer them to a breakeven and partially fix, since a stop on a weekly test may lead to the formation of a deep corrective model.

Intraday plan.

Low levels in the previous week allows the calculation of the important zone of resistance of NKZ 1/2 at1.2389-1.2380. While the pair is trading below this zone, the downward movement will remain impulsive even at the intraday level. To disrupt the downward structure, it would be necessary to close the U.S. session above the level of 1.2389. If this happens, the rise to the weekly short-term peak 1.2501-1.2480 will be the main movement of the current week. Continuation of the fall will be confirmed if one of the Americans closes below the level of 1.2287.

The daytime CP is the daytime control zone. The zone is formed by important data from the futures market.

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

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