Currency Rates Forecast – Analysis of Forex Trends

Forex Trends – Currency Rates Forecast: week 12/16/12 – 12/21/12

Currency rates forecast (weekly) – an overview of the forex trends for the past week with likely developments for the next week. Featuring unique content.

 
USD/CAD update 12/19/12: The tide might be turning.

The pair fell to the weekly low of 0.9825 but bounced back and the pair finished last week virtually flat. Analysis of the technical indicators is suggesting that the recent downtrend is about to end. Based on the analysis the pair is likely to continue to fall in the next day or two and can reach 0.9860 but analysis of the “bigger picture” suggests that the tide is about to turn and a new uptrend is very close. The falling volatility is likely during this week. The analysis suggests that the price will likely try to return to the parity during the next week. This week likely range between low of 0.9830 and high of 0.9900.

The “bigger picture” is neutral at this time with likely incoming uptrend and the price getting closer to the parity during the next week. USD/CAD pair is generally more resilient to a classical risk appetite – aversion scenario but general decline of the greenback will likely have some affect on the price action.

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Analysis of Forex Trends