The currency pair Canadian dollar against the US dollar USD CAD continues to move within the framework of a strong upward trend, and at the moment the purpose of growth is the area above the level of 1.3550, which indicates an continued growth of quotations in the area above the level of 1.38.
Forex USD CAD Forecast on January 23, 2017
We continue to hold the purchase of a pair, but the growth occurs without correction, which prevents build up long positions in the pair.
Cancellation option of continued growth of the Canadian dollar quotations will be a strong fall and the breakdown of 1.2970 areas, which indicates the potential change of the trend in favor of fall. Important news from Canada is not expected, so the pair will continue to move in the USD/CAD technical analysis.
Forex USD CAD Forecast on January 23, 2017 suggests an attempt to continue the growth of the pair to above the level of 1.35 to the upper limit of the breakdown triangle model is expected to accelerate the fall of quotations for the purpose of higher than 1.38.
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