20.10.201711:55 Forex Analysis & Reviews: Trading forecast for USD / CAD pair on 10/20/2017

The formation of the medium-term accumulation zone continues for the second week. Significant support and resistance are located at monthly boundaries. Working in the range involves fixing and inputs on weekly highs and lows.

Medium-term plan.

To date, the pair is trading in the flat range. This allows keeping the sales in the direction of the local downward momentum. The main goal of the decline remains to be a breakout in the weekly short-term at 1.2425 - 1.2408. In the case of the formation of the reversal pattern, the target of growth will be the weekly short-term target at 1.2623 - 1.2605. Updating the monthly maximum will allow the continuation of the upward structure, which was formed last month. The test of the lower weekly short-circuit may allow obtaining favorable prices in purchasing the instrument.

The continuation of the growth of the pair and the consolidation above today's local maximum are necessary to form an alternative model. This allows reviewing purchases in order to update the monthly maximum.

Intraday plan.

Today, the pair was tested again to determine the resistance of NKZ 1/2 at 1.2526 - 1.2519. If there is a breakdown and fastening above the specified zone in today's US session, this will allow talking about the change of priority and the search for purchases in the beginning of next week. If the price is kept below the NKZ , the pair will resume the downward movement. The goal of the fall remains a week-long short circuit at 1.2425 - 1.2408.

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 through marks from important futures market changes 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.