FX.co ★ The Trading forecast for USD/CAD pair on 12.10.2017

For the week, The downward movement is moving towards the weekly short-term target of 1.2425-1.2408. The achievement of this zone will determine the priority in the further medium-term.

Medium-term plan.

The downward movement is corrective as long as the pair trades above the weekly short-term target of 1.2425-1.2408. To form a reversal medium-term model, it will be necessary to consolidate below 1.2408 during one of the American sessions. This will allow the consideration of the monthly CP of October as a long-term goal. In the case of a large demand for a weekly short-term test, the control zones of the younger period will come to the fore, as their test will indicate the possibility of resuming the growth of the pair. Eventually, this will lead to the renewal of the October maximum.

An alternative model will develop if the pair forms a medium-term accumulation zone, where the extremes in the last two weeks will determine the levels of support and resistance.

Intraday plan.

Yesterday the formation of the reversal model took place on the junior timeframe. This happened after the US session closed below the NKZ 1/2 at 1.2510 - 1.2503. Any growth today or in the coming days will be in the form of a correction. The purpose of the fall is a weekly short-term fault at 1.2425 - 1.2408. The movement within the day range will allow the consideration of this zone as a target for today. Favorable prices for sale begin within the NKZ at 1.2486-1.2481.

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

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.