The currency pair Canadian dollar against the US dollar USD CAD continues to move within the test area of a local minimum, the couple could not go to the quality of upward correction. However, the potential for a rebound remains, consider opening positions only after the breakdown of the upper limit of the downward channel.
USD CAD Forecast Canadian Dollar on January 18, 2017
In the case of breakdown lows and closing the pair below 1.29, we can expect continuation of falling of an attempt working out in the framework of a large reversal pattern Forex Double Top with a view to falling below the 1.20 area.
Among the important news from Canada that may have an impact on the Canadian dollar stands out, the Bank of Canada decision on the basic interest rate, the Bank of Canada’s accompanying statement, the press conference of the Bank of Canada.
USD CAD Forecast Canadian Dollar on January 18, 2017 suggests an attempt to rebound to above the level of 1.31 to solutions at the basic rate, the cancellation will be 1.29 sample area that will point to the quotations going beyond the daily rising channel.
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