The currency pair Canadian dollar against the US dollar USD CAD continues to move through the formation of reversal pattern Forex double bottom with a potential target of the level above 1.36 area, but to complete the forex model is important to see the breakdown of the resistance area at 1.3380 above.
USD CAD Forecast Canadian Dollar on January 31, 2017
At the moment, we can expect an attempt to continue the growth of quotations pair Canadian Dollar after a minor correction and a breakdown field of 1.32 is expected to accelerate growth in USD/CAD quotes. Cancellation option will be the continuation of the fall to the breakdown of the area of a local minimum.
Among the important news from Canada that may have an impact on the course of the currency pair USD/CAD is to provide, change in the volume of GDP, as well as raw material price index.
USD CAD Forecast Canadian Dollar on January 31, 2017 suggests an attempt to continue to grow with the breakdown of the resistance area at 1.32, the cancellation option will continue to reduce.
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