USDCAD Weekly Forex Forecast 10th December to 16th December by yshashmi37 on

Midterm forecast:

While the price is below the resistance 1.3440, beginning of downtrend is expected.
We make sure when the support at 1.3180 breaks.
If the resistance at 1.3440 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:

While the RSI support #1 at 51 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 1.3445 on 12/06/2018, so more losses to support(s) 1.3265, 1.3225 and minimum to Major Support (1.3180) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 57.

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