The currency pair Canadian dollar against the US dollar USD CAD continues to move in line with expectations, quotes could pushed from the bottom of forex bull shark model. The purpose of growth and testing of the model is the dense test the descending channel’s upper border at the level of 1.33, where there is a potential for a rebound down the pair of quotes.
USD CAD Forecast Canadian Dollar on December 16, 2016
In favor of the continuation of the growth is the breakdown of the trend line on the indicator of relative strength. But do not try to exclude slight correction of quotations in the region at the level of 1.3280. Among the important news from Canada that may have an impact on the Canadian dollar, we should mention, volume of transactions with foreign securities, the growth rate is expected to level 11.77B 12.35B to a level that can provide short-term support to Canadians. Acceleration of growth of pair of quotes should be expected from the breakdown of the upper boundary of the channel, which will point to a tight test of 1.35 area.
USD CAD Forecast Canadian Dollar on December 16, 2016 involves an attempt to continue growing in the area above the level of 1.33.
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