The currency pair Canadian dollar against the US dollar USD CAD continues to move in the mining bullish wave pattern Wolfe Forex with a potential upside target above 1.36 area. At the moment quotes are testing the resistance area and has the potential for a rebound and the development of a minor correction for the pair USD/CAD.
USD CAD Forecast Canadian Dollar on March 2, 2017
At the time of the test the broken trend line on the indicator of relative strength is expected to continue growing in the area above the level of 1.35. We continue to increase the amount of long positions in the pair and willing to try to buy growth with the development of the Canadian dollar quotations.
Among the important news from Canada that may have a strong influence on the Canadian dollar, is to provide, change in the volume of GDP Change in GDP for the quarter on an annualized basis.
USD CAD Forecast Canadian Dollar on March 2, 2017 suggests an attempt to continue the growth in the area above the 1.35 level within the mining bovine Forex Wolfe wave model.
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