The currency pair Canadian dollar against the US dollar USD CAD continues to move in the beginning of the mining model bullish forex Wolfe waves with a potential target of growth above the level of 1.35.
However, at this time the value of the relative strength indicator test downward trend line, indicating that the correction attempt, and only after that we can expect continuation of growth of the Canadian dollar quotations.
USD CAD Forecast Canadian Dollar on February 8, 2017
We continue to keep buying the pair and are ready to increase the amount of long positions on the development of an upward movement.
Expect faster growth USD/CAD quotes is a breakdown of the descending trend line on the chart. Important news from Canada is not expected, so the pair will continue to move in the USD/CAD technical analysis.
USD CAD Forecast Canadian Dollar on February 8, 2017 suggests an attempt to continue the growth of the pair of quotes within the mining bullish wave pattern Wolfe forex, but do not exclude the correction of an attempt by the resistance test on the indicator of relative strength.
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