The currency pair Canadian dollar against the US dollar USD CAD continues to move through the formation of bullish forex Wolfe wave model.
At the moment, the value of the relative strength indicator clamped within the forex model Triangle, and the pair itself is testing the support area is expected to rebound and start the growth of quotations of the Canadian dollar in the area above the level of 1.3220, where the pair met again the resistance of the descending trend line on the indicator of relative strength.
USD CAD Forecast Canadian Dollar on February 17, 2017
Among the important news from Canada that may have a strong influence on the Canadian dollar, we should mention, volume of transactions with foreign securities.
USD CAD Forecast Canadian Dollar on February 17, 2017 suggests an attempt to continue its growth in the framework of the beginning of the mining model bullish forex Wolfe waves with a potential target of growth above the level of 1.35, the cancellation option will drop and the breakdown of the area 1.2950 closing price.
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